Diana Shipping Finds Work for Newcastlemax Newbuild

Greek shipping company Diana Shipping has entered into a time charter contract with Koch Shipping, Singapore, for San Francisco, one of its Newcastlemax dry bulk vessels which is currently under construction in China.

The gross charter rate is USD 11,750 per day for a period of minimum twelve months to about sixteen months, with the charter expected to commence on January 6, 2017.

The firm said that the employment of the 208,500 dwt ship is anticipated to generate approximately USD 4.23 million of gross revenue for the minimum scheduled period of the time charter.

Apart from San Francisco being built by Chinese shipbuilder Jiangnan Shanghai Changxing Heavy Industries, Diana’s fleet is currently comprised of 46 dry bulk vessels. The company said it also expects to take delivery of one newbuilding Newcastlemax dry bulk carrier during the first quarter of 2017.

As of December 9, 2016, the combined carrying capacity of Diana’s fleet is around 5.2 million dwt with a weighted average age of 8.13 years, the shipowner said.

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