Diana Announces Time Charter Contract for m/v Norfolk

Diana-Shipping-mv-Norfolk-Capesize

Diana Shipping, a global shipping company specializing in the ownership of dry bulk vessels, announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Norfolk.

The gross charter rate is US$13,250 per day, minus a 5% commission paid to third parties, for a period of minimum twenty-one (21) months to maximum twenty-four (24) months. The charter is expected to commence on December 1, 2017. The m/v Norfolk is currently chartered, as previously announced, to Trafigura Maritime Logistics Pte. Ltd., Singapore, at a gross charter rate of US$12,000 per day, minus a 5% commission paid to third parties.

The “Norfolk” is a 164,218 dwt Capesize dry bulk vessel built in 2002.

This employment is anticipated to generate approximately US$8.35 million of gross revenue for the minimum scheduled period of the time charter.

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