Diana Shipping Announces Time Charter Contract for m/v New Orleans

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Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Engelhart CTP Freight (Switzerland) SA, for one of its Capesize dry bulk vessels, the m/v New Orleans.

The gross charter rate is US$32,000 per day, minus a 5% commission paid to third parties, for a period until minimum November 20, 2023 up to maximum January 31, 2024. The charter is expected to commence on March 25, 2022. The m/v New Orleans is currently chartered, as previously announced, to Nippon Yusen Kabushiki Kaisha, at a gross charter rate of US$15,500 per day, minus a 5% commission paid to third parties.

The “New Orleans” is a 180,960 dwt Capesize dry bulk vessel built in 2015.

The employment of “New Orleans” is anticipated to generate approximately US$19.04 million of gross revenue for the minimum scheduled period of the time charter.