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Diana Shipping Inc. Announces Time Charter Contract for m/v New Orleans with Cargill

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Cargill International S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v New Orleans. The gross charter rate is US$15,000 per day, minus a 4.75% commission paid to third parties, for a period of about sixteen (16) months to about nineteen (19) months. The charter commenced earlier today.

Image: Diana Shipping Inc.

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

This employment is anticipated to generate approximately US$6.98 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 Dione, Diana Shipping Inc.’s fleet will consist of 46 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 18 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Dione, is approximately 5.6 million dwt with a weighted average age of 9.29 years.
Source: Diana Shipping Inc.

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