Diana Shipping Inc. Announces Time Charter Contract for m/v Electra with SwissMarine
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with SwissMarine Pte Ltd., Singapore, for one of its Post-Panamax dry bulk vessels, the m/v Electra. The gross charter rate is US$12,500 per day, minus a 5% commission paid to third parties, for a period until maximum March 30, 2021. The charter commenced on January 4, 2021. The m/v Electra was chartered, as previously announced, to Oldendorff Carriers GMBH & Co. KG, Lübeck, Germany, at a gross charter rate of US$10,250 per day, minus a 5% commission paid to third parties.
The “Electra” is a 87,150 dwt Post-Panamax dry bulk vessel built in 2013.
The employment of “Electra” is anticipated to generate approximately US$1.06 million of gross revenue for the minimum scheduled period of the time charter.
Upon completion of the previously announced sales of two Panamax dry bulk vessels, the m/v Coronis and the m/v Oceanis, and one Capesize dry bulk vessel, the m/v Sideris GS, Diana Shipping Inc.’s fleet will consist of 37 dry bulk vessels (4 Newcastlemax, 12 Capesize, 5 Post-Panamax, 5 Kamsarmax and 11 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Coronis, the m/v Oceanis and the m/v Sideris GS, is approximately 5.0 million dwt with a weighted average age of 10.27 years.
Diana Shipping Inc. Announces Time Charter Contracts for m/v Santa Barbara With Cargill and m/v Salt Lake City With C Transport
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Cargill International S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Santa Barbara. The gross charter rate is US$17,250 per day, minus a 4.75% commission paid to third parties, for a period until minimum January 5, 2022 up to maximum March 5, 2022. The charter is expected to commence tomorrow.
The “Santa Barbara” is a 179,426 dwt Capesize dry bulk vessel built in 2015.
The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with C Transport Maritime Ltd., Bermuda, for one of its Capesize dry bulk vessels, the m/v Salt Lake City. The gross charter rate is US$13,000 per day, minus a 5% commission paid to third parties, for a period until minimum April 1, 2022 up to maximum June 30, 2022. The charter is expected to commence tomorrow.
The “Salt Lake City” is a 171,810 dwt Capesize dry bulk vessel built in 2005.
The employments of “Santa Barbara” and “Salt Lake City” are anticipated to generate approximately US$11.89 million of gross revenue for the minimum scheduled period of the time charters.
Upon completion of the previously announced sales of two Panamax dry bulk vessels, the m/v Coronis and the m/v Oceanis, and one Capesize dry bulk vessel, the m/v Sideris GS, Diana Shipping Inc.’s fleet will consist of 37 dry bulk vessels (4 Newcastlemax, 12 Capesize, 5 Post-Panamax, 5 Kamsarmax and 11 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Coronis, the m/v Oceanis and the m/v Sideris GS, is approximately 5.0 million dwt with a weighted average age of 10.26 years.
Diana Shipping Inc. Announces Sale of a Panamax Dry Bulk Vessel, the m/v Oceanis; and a Time Charter Contract for m/v New York
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party, the 2001-built vessel “Oceanis”, with delivery to the buyer latest by April 16, 2021, for a sale price of US$5.75 million before commissions.
The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with EGPN Bulk Carrier Co., Limited, Hong Kong, for one of its Capesize dry bulk vessels, the m/v New York. The gross charter rate is US$14,000 per day, minus a 5% commission paid to third parties, for a period until minimum April 16, 2022 up to maximum June 30, 2022. The charter is expected to commence on December 27, 2020.
The “New York” is a 177,773 dwt Capesize dry bulk vessel built in 2010.
This employment is anticipated to generate approximately US$6.57 million of gross revenue for the minimum scheduled period of the time charter.
Upon completion of the aforementioned sale and the previously announced sales of one Panamax dry bulk vessel, the m/v Coronis, and one Capesize dry bulk vessel, the m/v Sideris GS , Diana Shipping Inc.’s fleet will consist of 37 dry bulk vessels (4 Newcastlemax, 12 Capesize, 5 Post-Panamax, 5 Kamsarmax and 11 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Oceanis, the m/v Coronis and the m/v Sideris GS is approximately 5.0 million dwt with a weighted average age of 10.20 years.
Diana Shipping Inc. Announces Direct Continuation of Time Charter Contract for m/v Baltimore with Koch
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Koch Shipping Pte. Ltd., Singapore, for one of its Capesize dry bulk vessels, the m/v Baltimore. The gross charter rate is US$13,000 per day, minus a 5% commission paid to third parties, for a period until minimum July 20, 2021 up to maximum October 5, 2021. The new charter period is expected to commence on December 20, 2020.
The “Baltimore” is a 177,243 dwt Capesize dry bulk vessel built in 2005.
This employment is anticipated to generate approximately US$2.73 million of gross revenue for the minimum scheduled period of the time charter.
Upon completion of the previously announced sales of one Panamax dry bulk vessel, the m/v Coronis, and one Capesize dry bulk vessel, the m/v Sideris GS, Diana Shipping Inc.’s fleet will consist of 38 dry bulk vessels (4 Newcastlemax, 12 Capesize, 5 Post-Panamax, 5 Kamsarmax and 12 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Coronis and the m/v Sideris GS is approximately 5.0 million dwt with a weighted average age of 10.20 years.
Diana Shipping Inc. Reported Net Loss of $13.2 Million For the Third Quarter of 2020
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, reported a net loss of $13.2 million and a net loss attributed to common stockholders of $14.6 million for the third quarter of 2020, including a $6.8 million impairment loss which resulted from the agreement to sell the vessels Sideris G.S. and Coronis. This compares to net income of $1.8 million and net income attributed to common stockholders of $0.3 million reported in the third quarter of 2019.
Time charter revenues were $42.3 million for the third quarter of 2020, compared to $53.5 million for the same period of 2019. The decrease in time charter revenues was mainly due to the decrease in ownership days resulting from the sale of six vessels in 2019 and two vessels in 2020 and also due to decreased average time charter rates that the Company achieved for its vessels during the quarter.
Net loss for the nine months ended September 30, 2020 amounted to $126.8 million and net loss attributed to common stockholders amounted to $131.1 million, including a $102.5 million impairment loss and $1.1 million loss on sale of vessels. This compares to net income of $3.4 million and net loss attributed to common stockholders of $0.9 million for the same period of 2019 including a $7.5 million impairment loss and $2.8 million loss on sale of vessels. Time charter revenues were $127.1 million for the nine months ended September 30, 2020, compared to $169.2 million for the same period of 2019..
Diana Shipping Inc. Announces Time Charter Contract for m/v Los Angeles with Engelhart CTP
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Engelhart CTP Freight (Switzerland) SA, for one of its Newcastlemax dry bulk vessels, the m/v Los Angeles. The gross charter rate is US$14,250 per day, minus a 5% commission paid to third parties, for a period until minimum October 1, 2021 up to maximum December 31, 2021. The charter commenced on June 6, 2020. The m/v Los Angeles was chartered, as previously announced, to SwissMarine Services S.A., Geneva, at a gross charter rate of US$13,250 per day, minus a 5% commission paid to third parties.
The “Los Angeles” is a 206,104 dwt Newcastlemax dry bulk vessel built in 2012.
This employment is anticipated to generate approximately US$6.77 million of gross revenue for the minimum scheduled period of the time charter.
Diana Shipping Inc. Announces Time Charter Contract for m/v Houston With C Transport
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with C Transport Maritime Ltd., Bermuda, for one of its Capesize dry bulk vessels, the m/v Houston, for a period until minimum July 1, 2021 up to maximum September 30, 2021. The gross charter rate is US$6,250 per day for the first thirty (30) days of the charter period and US$12,400 per day for the balance of the time charter, in each case minus a 5% commission paid to third parties. The charter commenced earlier today.
The “Houston” is a 177,729 dwt Capesize dry bulk vessel built in 2009.
This employment is anticipated to generate approximately US$5.25 million of gross revenue for the minimum scheduled period of the time charter.
Diana Shipping Inc.’s fleet currently consists of 41 dry bulk vessels (4 Newcastlemax, 13 Capesize, 5 Post-Panamax, 5 Kamsarmax and 14 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.1 million dwt with a weighted average age of 9.57 years.
Diana Shipping Inc. Announces Cancellation of the Sale of a Panamax Dry Bulk Vessel, the m/v Calipso
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, announced that it has received a notice of cancellation of the Memorandum of Agreement (the “Contract”), between a separate wholly-owned subsidiary and an unaffiliated third party, to sell the 2005-built Panamax vessel “Calipso”, as previously announced.
The buyers elected to exercise their right to cancel the Contract as a result of vessel’s missing the cancelling date stipulated therein, due to unforeseen events, unrelated to the condition of the vessel, and have requested the refund of the deposit of the purchase price held in joint escrow account by the deposit holder. The Company has taken steps to release the deposit to the buyers.
Upon completion of the previously announced sale of one Capesize dry bulk vessel, the m/v Norfolk, Diana Shipping Inc.’s fleet will consist of 41 dry bulk vessels (4 Newcastlemax, 13 Capesize, 5 Post-Panamax, 5 Kamsarmax and 14 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Norfolk, is approximately 5.2 million dwt with a weighted average age of 9.66 years.
Diana Shipping Inc. Announces Time Charter Contract for m/v Philadelphia with BHP
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with BHP Billiton Freight Singapore Pte. Ltd., for one of its Newcastlemax dry bulk vessels, the m/v Philadelphia. The gross charter rate is US$14,500 per day, minus a 5% commission paid to third parties, for a period of minimum fourteen (14) months to maximum seventeen (17) months. The charter commenced on February 5, 2020.
The “Philadelphia” is a 206,040 dwt Newcastlemax dry bulk vessel built in 2012.
This employment is anticipated to generate approximately US$6.09 million of gross revenue for the minimum scheduled period of the time charter.
Upon completion of the previously announced sales of one Panamax dry bulk vessel, the m/v Calipso, and one Capesize dry bulk vessel, the m/v Norfolk, Diana Shipping Inc.’s fleet will consist of 40 dry bulk vessels (4 Newcastlemax, 13 Capesize, 5 Post-Panamax, 5 Kamsarmax and 13 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Calipso and the m/v Norfolk, is approximately 5.2 million dwt with a weighted average age of 9.66 years.
Diana Shipping Inc. Announces the Sale of a Capesize Dry Bulk Vessel, the m/v Norfolk
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, today announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party, the 2002-built vessel “Norfolk”, with delivery to the buyer latest by February 25, 2020, for a sale price of US$9.35 million before commissions.
The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Aquavita International S.A., for one of its Kamsarmax dry bulk vessels, the m/v Maia. The gross charter rate is US$11,200 per day, minus a 5% commission paid to third parties, for a period of minimum fourteen (14) months to about sixteen (16) months. The new charter will commence today.
The “Maia” is a 82,193 dwt Kamsarmax dry bulk vessel built in 2009.
This employment is anticipated to generate approximately US$4.7 million of gross revenue for the minimum scheduled period of the time charter.
Upon completion of the aforementioned sale and the previously announced sale of a Panamax dry bulk vessel, the m/v Calipso, Diana Shipping Inc.’s fleet will consist of 40 dry bulk vessels (4 Newcastlemax, 13 Capesize, 5 Post-Panamax, 5 Kamsarmax and 13 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Norfolk and the m/v Calipso, is approximately 5.2 million dwt with a weighted average age of 9.62 years.