Diana Shipping: Time Charter Contract for m/v Newport News with Koch

Diana Shipping

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 Newcastlemax dry bulk vessels, the m/v Newport News.

The gross charter rate is US$18,400 per day, minus a 5% commission paid to third parties, for a period until minimum 16 October 2021 up to maximum 30 December 2021. The charter is expected to commence later today. The m/v Newport News is currently chartered, as previously announced, to SwissMarine Services S.A., Geneva, at a gross charter rate of US$16,500 per day, minus a 5% commission paid to third parties.

The “Newport News” is a 208,021 dwt Newcastlemax dry bulk vessel built in 2017.

This employment is anticipated to generate approximately US$7.3 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 40 dry bulk vessels (4 Newcastlemax, 13 Capesize, 5 Post-Panamax, 5 Kamsarmax and 13 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.0 million dwt with a weighted average age of 9.92 years.

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