Marine Link
Wednesday, October 17, 2018

Diana Shipping Bags TC for m/v San Francisco with Koch

Maritime Activity Reports, Inc.

May 10, 2018

Photo: Diana Shipping Inc.

Photo: Diana Shipping Inc.

 Diana Shipping  has 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 Newcastlemax dry bulk vessels, the m/v San Francisco. 

 
The global shipping company specializing in the ownership of dry bulk vessels said that the gross charter rate is US$24,000 per day, minus a 5% commission paid to third parties, for a period of approximately 10 months to approximately 12 months (approximately means +/-10 days). The charter is expected to commence on May 13, 2018. 
 
The m/v San Francisco is currently chartered, as previously announced, at a gross charter rate of US$11,750 per day, minus a 5% commission paid to third parties.
 
The “San Francisco” is a 208,006 dwt Newcastlemax dry bulk vessel built in 2017.
 
This employment is anticipated to generate approximately US$6.96 million of gross revenue for the minimum scheduled period of the time charter.
 
Diana Shipping Inc.’s 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 8.71 years.
 
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