Diana Shipping Announces Time Charter with K Line

Diana Shipping Inc. has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Kawasaki Kisen Kaisha (K Line) for one of its Capesize dry bulk vessels, the New Orleans.

The gross charter rate is US$20,000 per day, minus a 5% commission paid to third parties, for a period until minimum August 15, 2025 up to maximum October 31, 2025. The charter is expected to commence on December 7, 2023.

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

The employment of New Orleans is anticipated to generate approximately $12.16 million of gross revenue for the minimum scheduled period of the time charter.

Upon the completion of the previously announced sale of Boston, Diana Shipping Inc.’s fleet will consist of 40 dry bulk vessels: four Newcastlemax, nine Capesize, five Post-Panamax, six Kamsarmax, seven Panamax and nine Ultramax. The combined carrying capacity of the company’s fleet, including the Boston, is approximately 4.7 million dwt with a weighted average age of 10.65 years.