Greek dry bulk owner Diana Shipping has entered into a new time charter contract with Koch Shipping for 2005-built capesize Baltimore.
The new contract commenced earlier this week and is for a period of 19-22 months at a rate of $15,000 per day. Koch was paying $18,050 per day on the previous contract.
Diana Shipping says the deal will generate around $8.33m of gross revenue based on the minimum charter period.