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Sunday, October 21, 2018

Diana Shipping TC Contract for P. S. Palios with Koch

Maritime Activity Reports, Inc.

May 22, 2018

P. S. Palios. Photo: Diana Shipping Inc.

P. S. Palios. Photo: Diana Shipping Inc.

 Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Koch Shipping, Singapore, for one of its Capesize dry bulk vessels, the m/v P. S. Palios. 

 
The gross charter rate is US$17,350 per day, minus a 5% commission paid to third parties, for a period of about 13 months to maximum 15 months.
 
The charter is expected to commence on May 24, 2018. The m/v P. S. Palios is currently chartered, as previously announced, at a gross charter rate of US$10,550 per day, minus a 5% commission paid to third parties.
 
The “P. S. Palios” is a 179,134 dwt Capesize dry bulk vessel built in 2013.
 
This employment is anticipated to generate approximately US$6.51 million of gross revenue for the minimum scheduled period of the time charter.
 
Diana Shipping  fleet currently consists of 50 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 22 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.8 million dwt with a weighted average age of 8.75 years. 
 
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