Diana Shipping Fixes Philadelphia with BHP

February 12, 2020

Diana Shipping announced that through a separate wholly-owned subsidiary, it has entered into a time charter contract with BHP Billiton Freight Singapore Pte. Ltd., for one of its Newcastlemax dry bulk vessels, the m/v Philadelphia.

According to the global shipping company specializing in the ownership of dry bulk vessels, the gross charter rate is US$14,500 per day, minus a 5% commission paid to third parties, for a period of minimum 14 months to maximum 17 months.

The charter commenced on February 5, 2020. The “Philadelphia” is a 206,040 dwt Newcastlemax dry bulk vessel built in 2012.

This employment is anticipated to generate approximately US$6.09 million of gross revenue for the minimum scheduled period of the time charter.

Upon completion of the previously announced sales of one Panamax dry bulk vessel, the m/v Calipso, and one Capesize dry bulk vessel, the m/v Norfolk, Diana Shipping Inc.’s fleet will consist of 40 dry bulk vessels (4 Newcastlemax, 13 Capesize, 5 Post-Panamax, 5 Kamsarmax and 13 Panamax).

As of today, the combined carrying capacity of the company’s fleet, including the m/v Calipso and the m/v Norfolk, is approximately 5.2 million dwt with a weighted average age of 9.66 years.

Related News

Svitzer Orders World's First Battery-methanol Tug from Uzmar US Navy Awards $6.75 Billion Contract for Eight New John Lewis Class Oilers Trump's Tariff Increase Would Dramatically Raise Shipping Costs, Experts Say German Parliament Greenlights Rescue Plan for Shipbuilder Meyer Werft Offshore Driller Seadrill Has Its Sights Set on Asset Acquisitions, M&A