Diana Shipping Announces Time Charter Contract for m/v San Francisco with Koch

Diana Shipping

Diana Shipping 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 Newcastlemax dry bulk vessels, the m/v San Francisco.

The gross charter rate is US$16,000 per day, minus a 5% commission paid to third parties, for a period of minimum nineteen (19) months to about twenty-two (22) months. The charter commenced earlier today.

The “San Francisco” is a 208,006 dwt Newcastlemax dry bulk vessel built in 2017.

This employment is anticipated to generate approximately US$9.12 million of gross revenue for the minimum scheduled period of the time charter.

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