Friday, August 17, 2012

Another New Build Dry Bulk Freighter for Diana Shipping Subsidiary

$6.45 Million Two Year Charter Started This Week
Shipping News Feature

GREECE – Shipping transport services providers Diana Shipping Inc., announced this week that one of its unnamed wholly owned subsidiary companies has taken delivery of a 98,697 dead weight tonne newly built Post-Panamax dry bulk carrier, m/v Amphitrite. This new freighter adds to the company’s fleet of twenty nine dry bulk carriers and two new-build Ice Class Panamax vessels which are expected to be delivered during the fourth quarter of 2013.

The new vessel was constructed by the Chinese shipyards of the Tsuneishi Group (Zhoushan) Shipbuilding Inc. and purchased via a third party and will now fulfill a time charter contract which started yesterday with global agribusiness business, Bunge S.A. The gross charter rate is $10,000 per day (less a 5% brokerage commission) for a period of twenty two to twenty six months. The charterer has the option to employ the vessel for a further eleven to fourteen month period at a gross charter rate of $11,300 per day (less 5%).

This employment is anticipated to generate approximately $6.45 million of gross revenue for the minimum scheduled period of the charter with the contract expected to generate an additional $4.33 million of gross revenue if the optional period is exercised.