Diana Shipping Agrees Time Charter Contracts for Newport News & Ismene

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Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Nippon Yusen Kabushiki Kaisha, Tokyo, for one of its Newcastlemax dry bulk vessels, the m/v Newport News.

The gross charter rate is US$20,000 per day, minus a 5% commission paid to third parties, for a period until minimum March 10, 2025 up to maximum June 10, 2025. The charter is expected to commence during the second half of September 2023.

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

The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Paralos Shipping Pte. Ltd., Singapore, for one of its Panamax dry bulk vessels, the m/v Ismene. The gross charter rate is US$12,650 per day, minus a 5% commission paid to third parties, for a period until minimum April 15, 2025 up to maximum June 30, 2025. The charter is expected to commence on September 14, 2023.

The “Ismene” is a 77,901 dwt Panamax dry bulk vessel built in 2013.

The employments of “Newport News” and “Ismene” are anticipated to generate approximately US$17.80 million of gross revenue for the minimum scheduled period of the time charters.

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