Diana Shipping in Time Charter Contract for Clio with Phaethon
Diana Shipping has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Phaethon International Company AG, for one of its Panamax dry bulk vessels, the m/v Clio.
The gross charter rate is US$8,550 per day, minus a 5% commission paid to third parties, for a period of minimum 13 months to maximum 16 months. The charter is expected to commence on July 3, 2017.
The “Clio” is a 73,691 dwt Panamax dry bulk vessel built in 2005.
This employment is anticipated to generate approximately US$3.33 million of gross revenue for the minimum scheduled period of the time charter.
Diana Shipping Inc.’s fleet currently consists of 51 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 23 Panamax).
As of today, the combined carrying capacity of the Company’s fleet is approximately 5.9 million dwt with a weighted average age of 7.89 years.
