Newcastlemax Duo Joins Diana Shipping’s Fleet

Image Courtesy: Diana Shipping

Athens-based dry bulk owner Diana Shipping has taken delivery of two 208,500 dwt Newcastlemax newbuildings, the MV San Francisco and the MV Newport News, that were contracted in May 2013.

MV San Francisco is time chartered to Singapore’s Koch Shipping at a gross charter rate of USD 11,750 per day for a period of twelve to about sixteen months.

Expected to commence on January 6, 2017, this employment is anticipated to generate around USD 4.23 million of gross revenue for the minimum scheduled period of the time charter.

The second Newcastlemax bulker, MV Newport News, is scheduled to start working for SwissMarine Services on January 9 under a charter deal for a period of twenty-two to twenty-six months.

Additionally, Diana Shipping said it completed a drawdown of USD 57.24 million from its previously announced term loan facility with The Export-Import Bank of China.

The purpose of this drawdown is to partially finance the acquisition cost of the two Newcastlemax newbuildings.

Diana Shipping’s fleet currently consists of 48 dry bulk vessels with a combined carrying capacity of 5.7 million dwt.

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