Diana Shipping: Sale of Panamax Dry Bulk Vessel; Time Charter Contract for m/v New York

Diana-Shipping-Panamax

Diana Shipping, a global shipping company specializing in the ownership of dry bulk vessels, announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party, the 2001-built vessel “Oceanis”, with delivery to the buyer latest by April 16, 2021, for a sale price of US$5.75 million before commissions.

The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with EGPN Bulk Carrier Co., Limited, Hong Kong, for one of its Capesize dry bulk vessels, the m/v New York. The gross charter rate is US$14,000 per day, minus a 5% commission paid to third parties, for a period until minimum April 16, 2022 up to maximum June 30, 2022. The charter is expected to commence on December 27, 2020.

The “New York” is a 177,773 dwt Capesize dry bulk vessel built in 2010.

This employment is anticipated to generate approximately US$6.57 million of gross revenue for the minimum scheduled period of the time charter.

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