Koch Charters Diana Shipping’s Panamax

BulkerIllustration. Image Courtesy: PxHere under CC0 Creative Commons license

Greece-based dry bulk owner Diana Shipping has signed a time charter contract with Singapore’s Koch Shipping for one of its Panamax bulkers.

Under the agreement, the company’s 77,901 dwt Ismene was hired at a gross charter rate of USD 12,125 per day.

Starting from December 12, the bulker, which was built in 2013, would work for Koch for a period until minimum January 1, 2020 up to maximum March 31, 2020.

Diana Shipping said that the employment is expected to generate around USD 4.6 million of gross revenue for the minimum scheduled period of the time charter.

The unit was previously chartered to Hong Kong-based DHL Project & Chartering Limited at a rate of USD 12,000 per day over a period of fourteen months until late November 2018.

The company’s fleet currently consists of 48 dry bulk vessels, including 20 Panamaxes. As of today, the combined carrying capacity of the company’s fleet is around 5.7 million dwt.

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