Koch Shipping Paying Double for Diana’s Bulker

Greek dry bulk owner Diana Shipping has entered into a time charter contract with Singapore-based Koch Shipping for one of its Newcastlemax dry bulk vessels.

Under the agreement, the company’s 208,006 dwt bulker San Francisco would be chartered at a gross charter rate of USD 24,000 per day.

The charter, expected to commence on May 13, is for a period of ten to twelve months.

Diana Shipping said that the employment is expected to generate USD 6.96 million of gross revenue for the minimum scheduled period of the time charter.

The 2017-built San Francisco is currently chartered to Koch Shipping at a rate of USD 11,750 per day.

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