Diana Shipping Fixes Santa Barbara with Pacbulk

Maritime Activity Reports, Inc.

December 17, 2019

Santa Barbara. Image: Diana Shipping Inc

Santa Barbara. Image: Diana Shipping Inc

Diana Shipping  announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Pacbulk Shipping Pte. Ltd., Singapore, for one of its Capesize dry bulk vessels, the m/v Santa Barbara.

The global shipping company specializing in the ownership of dry bulk vessels said that the gross charter rate is US$17,250 per day, minus a 5% commission paid to third parties, for a period of minimum twelve (months to maximum fourteen months.

The charter is expected to commence on December 27, 2019.

The “Santa Barbara” is a 179,426 dwt Capesize dry bulk vessel built in 2015.

This employment is anticipated to generate approximately US$6.21 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 42 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 14 Panamax).

As of today, the combined carrying capacity of the company’s fleet is approximately 5.2 million dwt with a weighted average age of 9.50 years.

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