Diana Shipping Inc., a global shipping company specializing in the ownership and bareboat charter-in 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 2010-built Post-Panamax vessel “Alcmene”, with delivery to the buyer latest by March 7, 2025, for a sale price of approximately US$11.9 million before commissions.
The Company also 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 Newcastlemax dry bulk vessels, the m/v San Francisco. The gross charter rate is US$26,000 per day, minus a 5.00% commission paid to third parties, for a period until minimum October 25, 2026 up to maximum December 25, 2026. The new charter period is expected to commence on February 27, 2025. The m/v San Francisco is currently chartered, as previously announced, at a gross charter rate of US$22,000 per day, minus a 5.00% commission paid to third parties.
The “San Francisco” is a 208,006 dwt Newcastlemax dry bulk vessel built in 2017.
The employment extension of “San Francisco” is anticipated to generate approximately US$15.55 million of gross revenue for the minimum scheduled period of the time charter.
Upon completion of the aforementioned sale, Diana Shipping Inc.’s fleet will consist of 37 dry bulk vessels (4 Newcastlemax, 8 Capesize, 4 Post-Panamax, 6 Kamsarmax, 6 Panamax and 9 Ultramax). The Company also expects to take delivery of two methanol dual fuel new-building Kamsarmax dry bulk vessels by the second half of 2027 and the first half of 2028, respectively. As of today, the combined carrying capacity of the Company’s fleet, including the m/v Alcmene and excluding the two vessels not yet delivered, is approximately 4.2 million dwt with a weighted average age of 11.37 years.
Source: Diana Shipping Inc.
