ATHENS - Diana Shipping Inc . (NYSE:DSX), a global shipping company specializing in dry bulk vessels, has entered into a time charter contract with Louis Dreyfus Company Freight Asia Pte. Ltd. for the m/v Crystalia, an Ice Class Panamax dry bulk vessel.
The contract, commencing in the second quarter of 2024, commands a gross charter rate of US$13,900 per day, less a 5% commission paid to third parties, for a period of 21 to 25 months.
The Crystalia, a 77,525 dwt vessel built in 2014, is expected to generate approximately US$8.76 million of gross revenue for the minimum scheduled period of the charter. This development comes as Diana Shipping Inc. is set to reduce its fleet to 38 dry bulk vessels following the sale of m/v Houston and m/v Artemis.
The company also announced the anticipated delivery of two methanol dual fuel new-building Kamsarmax dry bulk vessels by the second half of 2027 and the first half of 2028, respectively. The current combined carrying capacity of Diana Shipping Inc.'s fleet, including the two vessels pending delivery, is approximately 4.5 million dwt with a weighted average age of 10.69 years.
Diana Shipping Inc.'s fleet is employed primarily on short to medium-term time charters, transporting a variety of dry bulk cargoes such as iron ore, coal, grain, and other materials across global shipping routes. The information in this article is based on a press release statement from Diana Shipping Inc.
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