Diana Shipping, Koch Shipping Ink Time Charter Deal for Capesize Bulker

Diana Shipping; Capesize MV HoustonIllustration. Image Courtesy: PxHere under CC0 Creative Commons license

Greece-based vessel owner Diana Shipping has entered into a time charter contract with Singapore’s Koch Shipping for its Capesize dry bulk vessel Houston.

Diana Shipping said the gross charter rate was agreed at USD 10,125 per day for a period of fourteen to about seventeen months.

The charter for the 177,729 dwt Houston started on February 17, 2019.

The 2009-built dry bulker is expected to generate an estimated USD 4.25 million of gross revenue for the minimum scheduled period of the time charter, Diana Shipping noted.

Houston concluded a ten-month time charter with Geneva-based SwissMarine Services in February this year. The day rate for the time period was USD 19,000.

The charter for Houston was announced a week after the company disclosed the sale of two 2001-built Panamax dry bulkers Danae and Dione.

Once the sale of the two vessels is completed, Diana Shipping’s fleet will consist of 46 dry bulk vessels, comprising 4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 18 Panamax bulkers.

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