Diana Shipping Fixes Baltimore with Koch

Diana Shipping has entered into a time charter contract with the Singapore-based provider of shipping transportation services Koch Shipping, for one of its Capesize dry bulk vessels, the m/v Baltimore.

The global shipping company specializing in the ownership of dry bulk vessels said that the gross charter rate is US$15,000 per day, minus a 5% commission paid to third parties, for a period of about 19 months to about 22 months. The charter commenced on May 19, 2019.

The “Baltimore” is a 177,243 dwt Capesize dry bulk vessel built in 2005.

This employment is anticipated to generate approximately US$8.33 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 Erato, Diana Shipping Inc.’s fleet will consist of 45 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 17 Panamax).

As of today, the combined carrying capacity of the Company’s fleet, including the m/v Erato, is approximately 5.5 million dwt with a weighted average age of 9.28 years. A table describing the current Diana Shipping Inc.