Diana Shipping Inc. has announced that it has extended the time charter contract with Nippon Yusen Kabushiki Kaisha (NYK Line), Tokyo, for one of its newcastlemax dry bulk vessels, the m/v Los Angeles.
The gross charter rate is US$28 700 per day, minus a 5.00% commission paid to third parties, for a period until minimum 1 October 2025 up to maximum 15 December 2025. The new charter period has been expected to commence on 18 July 2024. The Los Angeles is currently chartered, as previously announced, at a gross charter rate of US$17 700 per day, minus a 5.00% commission paid to third parties.
The Los Angeles is a 206 104 DWT newcastlemax dry bulk vessel built in 2012.
The employment extension of Los Angeles has been anticipated to generate approximately US$12.43 million of gross revenue for the minimum scheduled period of the time charter.
Upon completion of the previously announced sale of m/v Houston, Diana Shipping Inc.’s fleet will consist of 38 dry bulk vessels: four newcastlemax, eight capesize, five post-panamax, six kamsarmax, six panamax and nine ultramax. The company also expects to take delivery of two methanol dual fuel new-building kamsarmax dry bulk vessels by the 2H27 and the 1H28, respectively. Presently, the combined carrying capacity of the company’s fleet including the m/v Houston and excluding the two vessels not yet delivered, is approximately 4.4 million DWT with a weighted average age of 10.92 years.
