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Diana Shipping Inc. Announces Time Charter Contract for m/v San Francisco with Koch

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 Koch Shipping Pte. Ltd., Singapore, for one of its Newcastlemax dry bulk vessels, the m/v San Francisco. The gross charter rate is US$16,000 per day, minus a 5% commission paid to third parties, for a period of minimum nineteen (19) months to about twenty-two (22) months. The charter commenced earlier today.

The “San Francisco” is a 208,006 dwt Newcastlemax dry bulk vessel built in 2017.

Image: Diana Shipping Inc.

This employment is anticipated to generate approximately US$9.12 million of gross revenue for the minimum scheduled period of the time charter.

Upon completion of the previously announced sales of two Panamax dry bulk vessels, m/v Danae and 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 Danae and m/v Dione, is approximately 5.7 million dwt with a weighted average age of 9.31 years.
Source: Diana Shipping Inc.

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