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Diana Shipping Inc. Announces Time Charter Contract for m/v Ismene with Phaethon

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Phaethon International Company AG, for one of its Panamax dry bulk vessels, the m/v Ismene. The gross charter rate is US$10,800 per day, minus a 5% commission paid to third parties, for a period of minimum thirteen (13) months to about fifteen (15) months. The charter is expected to commence on January 11, 2020.

Image: Diana Shipping Inc.

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

This employment is anticipated to generate approximately US$4.21 million of gross revenue for the minimum scheduled period of the time charter.

Upon completion of the previously announced sale of one Panamax dry bulk vessel, the m/v Calipso, Diana Shipping Inc.’s fleet will consist of 41 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 13 Panamax).
Source: Diana Shipping Inc.

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