Diana Shipping extends time charter

Diana Shipping Inc has announced that, through a separate wholly-owned subsidiary, it agreed to extend the present time charter contract with Transgrain Shipping B.V., Rotterdam, for one of its Panamax dry bulk vessels, the m/v Clio. The gross charter rate is US$5350/day, minus a 5% commission paid to third parties, for a period of minimum 11 months to maximum 14 months. The new charter period is expected to commence on 5 May 2016.

The “Clio” is a 73 691 DWT Panamax dry bulk vessel built in 2005.

The employment extension of “Clio” is anticipated to generate approximately US$1.77 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 45 dry bulk vessels. At present, the combined carrying capacity of the Company’s fleet, excluding the four vessels not yet delivered, is approximately 5.2 million DWT with a weighted average age of 7.56 yrs.

Edited from press release by Angharad Lock

Read the article online at: https://www.worldcoal.com/handling/28042016/diana-shipping-extends-time-charter-686/