Diana Shipping Signs TC for m/v Sideris GS

Diana Shipping  announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Berge Bulk Shipping Singapore, for one of its Capesize dry bulk vessels, the m/v Sideris GS, for a period until minimum December 15, 2019 up to maximum March 30, 2020.

The global shipping company specializing in the ownership of dry bulk vessels said that the gross charter rate is US$8,500 per day for the first 30 days of the charter period and US$15,350 per day for the balance period of the time charter, in each case minus a 5% commission paid to third parties.

The charter commenced on November 15, 2018. The m/v Sideris GS was chartered, as previously announced, to Rio Tinto Shipping (Asia) Pte., Ltd., Singapore, at a gross charter rate of US$13,000 per day, minus a 5% commission paid to third parties.

The “Sideris GS” is a 174,186 dwt Capesize dry bulk vessel built in 2006.

This employment is anticipated to generate approximately US$6.24 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 Triton and m/v Alcyon, Diana Shipping Inc.’s fleet will consist of 48 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 20 Panamax).

As of today, the combined carrying capacity of the Company’s fleet, including m/v Triton and m/v Alcyon, is approximately 5.8 million dwt with a weighted average age of 9.24 years.