Diana Shipping: Time Charter Contracts for m/v Myrsini with Ausca and m/v Artemis 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 Ausca Shipping Limited, Hong Kong, for one of its Kamsarmax dry bulk vessels, the m/v Myrsini. The gross charter rate is US$11,500 per day, minus a 5% commission paid to third parties, for a period of minimum thirteen (13) months to about fifteen (15) months. The charter is expected to commence on December 4, 2019.

The “Myrsini” is a 82,117 dwt Kamsarmax dry bulk vessel built in 2010.

The Company also 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 Panamax dry bulk vessels, the m/v Artemis. The gross charter rate is US$10,150 per day, minus a 5% commission paid to third parties, for a period of about nine (9) months to maximum eleven (11) months. The charter commenced on November 28, 2019.

The “Artemis” is a 76,942 dwt Panamax dry bulk vessel built in 2006.

The employments of “Myrsini” and “Artemis” are anticipated to generate approximately US$7.07 million of gross revenue for the minimum scheduled period of the time charters.

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