Diana Shipping Wins Ausca, Koch Charters

Maritime Activity Reports, Inc.

December 3, 2019

Image: Diana Shipping Inc.

Image: Diana Shipping Inc.

Diana Shipping  announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Ausca Shipping Limited, Hong Kong, for one of its Kamsarmax dry bulk vessels, the m/v Myrsini.

According to the global shipping company specializing in the ownership of dry bulk vessels, the gross charter rate is US$11,500 per day, minus a 5% commission paid to third parties, for a period of minimum 13 months to about 15 months. The charter is expected to commence on December 4, 2019.

The “Myrsini” is a 82,117 dwt Kamsarmax dry bulk vessel built in 2010.

The Greece-based company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Koch Shipping Pte. Ltd., Singapore, for one of its Panamax dry bulk vessels, the m/v Artemis.

The gross charter rate is US$10,150 per day, minus a 5% commission paid to third parties, for a period of about nine months to maximum 11 months. The charter commenced on November 28, 2019.

The “Artemis” is a 76,942 dwt Panamax dry bulk vessel built in 2006.

The employments of “Myrsini” and “Artemis” are anticipated to generate approximately US$7.07 million of gross revenue for the minimum scheduled period of the time charters.

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 our fleet is approximately 5.2 million dwt with a weighted average age of 9.41 years.

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