Diana Shipping signs contract with Ausca for dry bulk vessel

10 August 2020 (Last Updated August 10th, 2020 12:13)

Through its subsidiary, Greece-based Diana Shipping has signed a time charter contract with Ausca Shipping for one of its Panamax dry bulk vessels m/v Melia.

Diana Shipping signs contract with Ausca for dry bulk vessel
The time charter agreement for Melia will generate $2.75m for Diana Shipping. Credit: Aashay Baindur.

Through its subsidiary, Greece-based Diana Shipping has signed a time charter contract with Ausca Shipping for one of its Panamax dry bulk vessels m/v Melia.

The deal includes a gross charter rate of $10,000 a day and excludes a 5% commission paid to third parties for a minimum period of eight to ten months. The charter period is expected to start on 20 August.

Built in 2005, Melia is a dry bulk vessel that can accommodate 76,225 deadweight tonnage (dwt) of goods.

The deal is expected to generate gross revenue of approximately $2.75m for Diana Shipping for a minimum scheduled period of the time charter.

Last month, the company signed a time charter contract with ST Shipping and Transport for one of its Panamax dry bulk vessels m/v Selina built in 2010.

Diana Shipping’s fleet now consists of 40 dry bulk vessels, including four Newcastlemax, 13 Capesize, five Post-Panamax, five Kamsarmax and 13 Panamax.

The total carrying capacity of the fleet is approximately 5.1 million dwt with 9.89 years weighted average age.

In February, Diana Shipping signed a memorandum of agreement (MOA) through its subsidiary to sell its Norfolk vessel built in 2002.

During the same month, the company signed a time charter contract with Koch Shipping Singapore for one of its Panamax dry bulk vessels Coronis.

In January, Diana Shipping signed a time charter contract with Aquavita International for a Kamsarmax dry bulk vessel m/v Astarte.