Diana Shipping Inc. (NYSE: DSX), a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has taken delivery of the m/v Leonidas P. C. (formerly “Magnolia”), a 2011 built Kamsarmax dry bulk vessel of 82,165 dwt that the Company entered into an agreement to purchase in July 2021.
As previously announced, the m/v Leonidas P. C. is time chartered to Cargill International S.A., Geneva, at a gross charter rate of US$24,500 per day, minus a 4.75% commission paid to third parties, for a period until minimum March 1, 2023 up to maximum April 30, 2023. The charter is expected to commence on February 18, 2022.
The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Solebay Shipping Cape Company Limited, Hong Kong, for one of its Capesize dry bulk vessels, the m/v Seattle. The gross charter rate is US$26,500 per day, minus a 5% commission paid to third parties, for a period until minimum October 1, 2023 up to maximum December 15, 2023. The charter is expected to commence on February 23, 2022. The m/v Seattle is currently chartered, as previously announced, to Pacbulk Shipping Pte. Ltd., Singapore, at a gross charter rate of US$12,300 per day, minus a 5% commission paid to third parties.
The “Seattle” is a 179,362 dwt Capesize dry bulk vessel built in 2011.
The employments of “Leonidas P. C.” and “Seattle” are anticipated to generate approximately US$24.41 million of gross revenue for the minimum scheduled period of the time charters.
Including the newly delivered m/v Leonidas P. C., Diana Shipping Inc.’s fleet currently consists of 34 dry bulk vessels (4 Newcastlemax, 11 Capesize, 5 Post-Panamax, 6 Kamsarmax and 8 Panamax). The Company also expects to take delivery of one new-building Capesize dry bulk vessel by the end of the first quarter of 2022. As of today, the combined carrying capacity of our fleet, excluding the one vessel not yet delivered, is approximately 4.4 million dwt with a weighted average age of 10.48 years.