Diana Finds Work for Three Bulkers

Greek dry bulk shipping company Diana Shipping has entered into two new charter agreements for two Capesize dry bulkers.

Namely, Diana Shipping inked a charter with Nidera S.P.A., Roma for one of its Panamaxes, the 75,172 dwt MV Dione. The gross charter rate for the 2001-built vessel is USD 4,350 per day, minus a 5% commission paid to third parties, for a period of about twelve to maximum fifteen months.

The company also signed a time charter contract with Singapore-based Rio Tinto Shipping for its Capesize dry bulker, the 2010-built MV New York. The 177,773 dwt vessel, which started its charter on February 3, was hired at a gross charter rate of USD 5,200 per day, for a period of minimum eleven to about fifteen months.

Additionally, Diana has agreed to extend the time charter contract with German RWE Supply & Trading GmbH for its 2014-built Capesize, the MV G. P. Zafirakis.

The extension will be for a period of minimum fifteen to maximum eighteen months at a gross charter rate of USD 6,500 per day.

The new charter period for the 179,492 dwt bulker is expected to commence on February 14, 2016, according to the company.

Diana said that the employment extension of G. P. Zafirakis and the employments of New York and Dione are expected to generate approximately USD 6.14 million of gross revenue for the minimum scheduled period of the time charters.

Currently, the combined carrying capacity of Diana’s fleet, excluding the six vessels not yet delivered, is approximately 5 million dwt with a weighted average age of 7.45 years.

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