Diana Shipping extends time charter contract with BG Shipping

The gross charter rate is $12,250 per day for a minimum 16 months a maximum of 19 months, according to Athens, Greece-based dry bulk vessel lessor Diana Shipping.    Greece-based Diana Shipping Inc. (DSI), which specializes in the ownership of dry bulk vessels, has through a separate wholly-owned subsidiary agreed to extend a current time charter contract with BG Shipping Co. of Hong Kong, for one of DSI’s Panamax dry bulk vessels, the m/v Selina, Diana Shipping has confirmed.
   The gross charter rate is $12,250 per day, minus a 5 percent commission paid to third parties, for a period of a minimum 16 months and a maximum of 19 months, according to a statement from Diana Shipping. The new charter period commenced Feb. 6. The m/v Selina had previously been chartered at a gross charter rate of $7,100 daily, minus a five percent commission.
   The Selina, a 75,700 dwt Panamax dry bulk vessel built in 2010, has an overall length of 225 meters (738 feet) and breadth of 32.2 meters (105 feet) and sails under the Marshall Islands flag.
   Diana Shipping said that the employment extension of the vessel is expected to generate about $5.88 million of gross revenue for the minimum scheduled period of the time charter extension.
   Including the Selina, Diana Shipping Inc.’s fleet currently consists of 50 dry bulk vessels – 22 Panamax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 4 Newcastlemax. As of today, the company says that the combined carrying capacity of its fleet is about 5.8 million dwt with a weighted average age of 8.46 years.