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Diana Shipping Inc. Announces Time Charter Contract for m/v DSI Andromeda With WBC

Diana Shipping Inc., 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 Western Bulk Carriers AS, for one of its Ultramax dry bulk vessels, the m/v DSI Andromeda. The gross charter rate is US$14,250 per day, minus a 5% commission paid to third parties, for a period until minimum October 16, 2023 up to maximum December 16, 2023. The charter is expected to commence later today.

The “DSI Andromeda” is a 60,309 dwt Ultramax dry bulk vessel built in 2016.

The employment of “DSI Andromeda” is anticipated to generate approximately US$4.70 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 40 dry bulk vessels (4 Newcastlemax, 11 Capesize, 5 Post-Panamax, 6 Kamsarmax, 8 Panamax and 6 Ultramax). The Company also expects to take delivery of 3 Ultramax dry bulk vessels in the fourth quarter of 2022. As of today, the combined carrying capacity of our fleet, excluding the 3 Ultramax dry bulk vessels not yet delivered, is approximately 4.7 million dwt with a weighted average age of 10.16 years.
Source: Diana Shipping Inc.

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