Diana Shipping fixes capesize to SwissMarine, pushes back newbuilds

Diana Shipping fixes capesize to SwissMarine, pushes back newbuilds

NYSE-listed Diana Shipping has chartered out its 2011-built capesize Seattle to Geneva-based operator SwissMarine Services.

The time charter contract is for a period of between eleven to fourteen months, commencing on December 9 at a rate of $7,300 per day minus 4.75% commission paid to third parties. The deal is expected to generate around $2.3m gross revenue for Diana based on the minimum charter period.

Diana Shipping acquired the vessel, formerly named Churchill Bulker, from Denmark’s J Lauritzen for $28.5m last month.

Additionally, Diana has announced that it has reached an agreement with China Shipbuilding Trading Company and Jiangnan Shipyard to extend the delivery of two Newcastlemax bunkers by approximately five months. The vessels are now expected to be delivered in the third and fourth quarters of 2016.

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.

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