Diana Shipping: Direct Continuation of Time Charter Contract for m/v Seattle

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Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Solebay Shipping Cape Company Limited, Hong Kong, for one of its Capesize dry bulk vessels, the m/v Seattle.

The gross charter rate is US$17,500 per day, minus a 5% commission paid to third parties, for a period until minimum July 15, 2025 up to maximum September 30, 2025. The new charter period is expected to commence on October 1, 2023.

The “Seattle” is a 179,362 dwt Capesize dry bulk vessel built in 2011.

The employment of “Seattle” is anticipated to generate approximately US$11.27 million of gross revenue for the minimum scheduled period of the time charter.

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