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Diana Shipping in time charter deal for m/v Philadelphia

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 Philadelphia.


The gross charter rate is $20,000 per day, minus a 5% commission paid to third parties, for a period of about twenty months to maximum twenty-three months.

The charter commenced on June 18, 2018. The m/v Philadelphia was chartered, as previously announced, at a gross charter rate of $15,500 per day, minus a 5% commission paid to third parties.

The Philadelphia is a 206,040 dwt Newcastlemax dry bulk vessel built in 2012.

This employment is anticipated to generate approximately $11.7 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 8.83 years.


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