Home MarketsChartering Diana Shipping Inc. Announces Time Charter Contract for m/v Boston with C Transport

Diana Shipping Inc. Announces Time Charter Contract for m/v Boston with C Transport

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Diana Shipping Inc. Announces Time Charter Contract for m/v Boston with C Transport
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ATHENS, GREECE, June 10, 2021 – Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with C Transport Maritime Ltd., Bermuda, for one of its Capesize dry bulk vessels, the m/v Boston.

The gross charter rate is US$25,500 per day, minus a 5% commission paid to third parties, for a period until minimum April 15, 2022 up to maximum June 15, 2022. The charter is expected to commence on June 15, 2021. The m/v Boston is currently chartered, as previously announced, to Oldendorff Carriers GmbH & Co. KG, Lübeck, Germany, at a gross charter rate of US$15,300 per day, minus a 5% commission paid to third parties.

The “Boston” is a 177,828 dwt Capesize dry bulk vessel built in 2007.

The employment of “Boston” is anticipated to generate approximately US$7.65 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 Naias, Diana Shipping Inc.’s fleet will consist of 36 dry bulk vessels (4 Newcastlemax, 12 Capesize, 5 Post-Panamax, 5 Kamsarmax and 10 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Naias,  is approximately 4.7 million dwt with a weighted average age of 10.31 years. A table describing the current Diana Shipping Inc. fleet can be found on the Company’s website, www.dianashippinginc.com. Information contained on the Company’s website does not constitute a part of this press release.

About the Company

Diana Shipping Inc. is a global provider of shipping transportation services through its ownership of dry bulk vessels. The Company’s vessels are employed primarily on medium to long-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.

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