Diana Shipping Inks TC with Al Ghurair

Maritime Activity Reports, Inc.

October 13, 2019

Polymnia. Image: Diana Shipping Inc

Polymnia. Image: Diana Shipping Inc

Greek dry bulk owner Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Al Ghurair Resources International L.L.C., Dubai, for one of its Post-Panamax dry bulk vessels, the m/v Polymnia.

According to a press release from the global shipping company specializing in the ownership of dry bulk vessels, the gross charter rate is US$14,500 per day, minus a 5% commission paid to third parties, for a period of minimum 12 months to about 14 months.

The charter is expected to commence on October 23, 2019, it said. The “Polymnia” is a 98,704 dwt Post-Panamax dry bulk vessel built in 2012.
 
This employment is anticipated to generate approximately US$5.22 million of gross revenue for the minimum scheduled period of the time charter.
 
Diana Shipping Inc.’s fleet currently consists of 43 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 15 Panamax).

As of today, the combined carrying capacity of the Company’s fleet is approximately 5.3 million dwt with a weighted average age of 9.39 years.

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