Dry CargoEurope

Diana Shipping fixes capesize to Koch at alarmingly low rate

Greek owner Diana Shipping has fixed one of its capesizes to Koch Shipping at a rate which will have dry bulk shipowners around the world on edge.

Diana has sent 2009-built capesize Houston on a time charter contract with Koch Shipping for 14 to 17 months at a rate of just $10,125 per day.

The rate is more in line with rates being fetched by Diana for its fleet of panamaxes, and almost half of the $19,000 per day previously being paid for the Houston by SwissMarine on its previous charter.

Nearly every other capesize in the Diana fleet is currently on charter at between $15,000 and $20,000 per day.

The Baltic Dry Index is currently sitting near record lows at just 634 points, having dramatically dropped from 1271 at year-end.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.


  1. Very sensible. Her operating costs are well covered, there’s no big call on working capital and she will be around in a year’s time.

    “He who fights, and runs away,

    Lives to fight another day!”

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