Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with BHP Billiton Freight Singapore Pte. Ltd., for one of its Newcastlemax dry bulk vessels, the m/v Philadelphia. The gross charter rate is US$14,500 per day, minus a 5% commission paid to third parties, for a period of minimum fourteen (14) months to maximum seventeen (17) months. The charter commenced on February 5, 2020.
The “Philadelphia” is a 206,040 dwt Newcastlemax dry bulk vessel built in 2012.
This employment is anticipated to generate approximately US$6.09 million of gross revenue for the minimum scheduled period of the time charter.