Diana Announces Time Charter Contract for m/v Los Angeles


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 Los Angeles.

The gross charter rate is US$26,250 per day, minus a 5% commission paid to third parties, for a period until minimum January 15, 2023 up to maximum March 15, 2023. The charter commenced retroactively as of January 30, 2022. The m/v Los Angeles was chartered, as previously announced, to Engelhart CTP Freight (Switzerland) SA, at a gross charter rate of US$14,250 per day, minus a 5% commission paid to third parties.

The “Los Angeles” is a 206,104 dwt Newcastlemax dry bulk vessel built in 2012.

The employment of “Los Angeles” is anticipated to generate approximately US$9.06 million of gross revenue for the minimum scheduled period of the time charter.