Diana Announces Time Charter Contract for m/v Semirio with Pacific Bulk

Diana Shipping

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Pacific Bulk Cape Company Limited, Hong Kong, for one of its Capesize dry bulk vessels, the m/v Semirio.

The gross charter rate is US$20,050 per day, minus a 5% commission paid to third parties, for a period of minimum ten months to about twelve months. The charter is expected to commence on August 30, 2018. The m/v Semirio is currently chartered, as previously announced, to Koch Shipping Pte. Ltd., Singapore, at a gross charter rate of US$14,150 per day, minus a 5% commission paid to third parties.

The “Semirio” is a 174,261 dwt Capesize dry bulk vessel built in 2007.

This employment is anticipated to generate approximately US$6.02 million of gross revenue for the minimum scheduled period of the time charter.

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