Diana: Time Charter Contract for m/v P. S. Palios; Direct Continuation of Time Charter Contract for m/v Myrto

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 Capesize dry bulk vessels, the m/v P. S. Palios. The gross charter rate is US$10,550 per day, minus a 5% commission paid to third parties, for a period of minimum twelve (12) months to about sixteen (16) months. The charter is expected to commence on January 21, 2017.

The “P. S. Palios” is a 179,134 dwt Capesize dry bulk vessel built in 2013.

Additionally, the Company announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Cargill International S.A., Geneva, for one of its Kamsarmax dry bulk vessels, the m/v Myrto, for a period of minimum twelve (12) months to maximum fifteen (15) months. The gross charter rate is US$8,000 per day, minus a 4.75% commission paid to third parties. The new charter period is expected to commence on January 16, 2017.

The “Myrto” is a 82,131 dwt Kamsarmax dry bulk vessel built in 2013.

The employment of “P. S. Palios” as well as the employment extension of “Myrto” are anticipated to generate approximately US$6.68 million of gross revenue for the minimum scheduled period of the time charters.

LEAVE A COMMENT

×

Comments are closed.