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 Koch Shipping Pte. Ltd., Singapore, for one of its Capesize dry bulk vessels, the m/v Baltimore.
The gross charter rate is US$15,000 per day, minus a 5% commission paid to third parties, for a period of about nineteen (19) months to about twenty-two (22) months. The charter commenced on May 19, 2019.
The “Baltimore” is a 177,243 dwt Capesize dry bulk vessel built in 2005.
This employment is anticipated to generate approximately US$8.33 million of gross revenue for the minimum scheduled period of the time charter.