Diana Shipping announces time charter contract for M/V polymnia with reachy

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Diana Shipping, a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Reachy Shipping (SGP) Pte. Ltd., for one of its Post-Panamax dry bulk vessels, the m/v Polymnia. The gross charter rate is US$17,500 per day, minus a 5.00% commission paid to third parties, for a period until minimum August 1, 2025 up to maximum September 30, 2025.

The charter is expected to commence on June 8, 2024. The m/v Polymnia is currently chartered, as previously announced, to Cobelfret S.A., Luxemburg, at a gross charter rate of US$15,000 per day, minus a 5.00% commission paid to third parties.

The “Polymnia” is a 98,704 dwt Post-Panamax dry bulk vessel built in 2012.

The employment of “Polymnia” is anticipated to generate approximately US$7.25 million of gross revenue for the minimum scheduled period of the time charter.