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Tuesday, April 25, 2017

Diana Shipping Extends Time Charter Contract for M/v Houston

February 16, 2017

Photo:  Diana Shipping Inc.

Photo: Diana Shipping Inc.

 Diana Shipping  has announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with SwissMarine Services, Geneva, for one of its Capesize dry bulk vessels, the m/v Houston, for a period of about thirteen (13) months to maximum fifteen (15) months. 

 
The gross charter rate is US$5,150 per day for the first fifteen (15) days of the charter period and US$10,000 per day for the balance period of the time charter, in each case minus a 5% commission paid to third parties. 
 
The new charter period is expected to commence today (February 17). The “Houston” is a 177,729 dwt Capesize dry bulk vessel built in 2009.
 
The employment extension of “Houston” is anticipated to generate approximately US$3.68 million of gross revenue for the minimum scheduled period of the time charter.
 
Diana Shipping Inc.’s fleet currently consists of 48 dry bulk vessels (4 Newcastlemax, 14 Capesize, 3 Post-Panamax, 4 Kamsarmax and 23 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.7 million dwt with a weighted average age of 7.71 years. 
 
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