Diana Shipping Takes Delivery of 2016-built Ultramax

Dry bulk shipping company Diana Shipping announced it has taken delivery of a 2016-built Ultramax bulk carrier.

Diana, through a separate wholly-owned subsidiary, had agreed to purchase the 63,379 dwt DSI Drammen (formerly Nord Potomac) in February 2023.

The company also announced that, through the same wholly-owned subsidiary, it entered into a time charter contract with IMC Shipping Co. Pte. Ltd., at a gross charter rate of US$18,250 per day, minus a 5% commission paid to third parties, for a period until minimum April 10, 2024 up to maximum June 10, 2024. The charter is expected to commence on April 15, 2023.

The employment of DSI Drammen is anticipated to generate approximately $6.5 million of gross revenue for the minimum scheduled period of the time charter, Diana said.