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Diana Shipping announces time charter contract for m/v San Francisco

Staff Writer |
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 Newcastlemax dry bulk vessels, the m/v San Francisco.

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The gross charter rate is $24,000 per day, minus a 5% commission paid to third parties, for a period of approximately ten (10) months to approximately twelve (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 $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 $6.96 million of gross revenue for the minimum scheduled period of the time charter.

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