Diana Secures Work for Newcastlemax

BulkerIllustration; Image Courtesy: Pixabay under CC0 Creative Commons license

Greek shipowner Diana Shipping has entered into a time charter contract with BHP Billiton Freight Singapore for one of its Newcastlemax dry bulk vessels, the m/v Philadelphia.

The gross charter rate is USD 14,500 per day for a period of minimum fourteen to maximum seventeen months. The charter commenced on February 5, 2020.

Previously, the 206,040 dwt bulker worked for Koch Shipping at a higher charter rate of USD 20,000 per day.

This employment of the 2012-built ship is anticipated to generate approximately USD 6.09 million of gross revenue for the minimum scheduled period of the time charter, Diana Shipping said.

Upon completion of the previously announced sales of one Panamax dry bulk vessel, the m/v Calipso, and one Capesize dry bulk vessel, the m/v Norfolk, Diana Shipping’s fleet will consist of 40 dry bulk vessels. The combined carrying capacity of the company’s fleet is about 5.2 million dwt with a weighted average age of 9.66 years.

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