Diana Adds Panamax, Pens Charter for Capesize Bulker

Diana Shipping Greek dry bulk owner Diana Shipping has taken delivery of the MV Selina (formerly Sunshine), a 2010-built Panamax dry bulk vessel it bought in February 2016. Diana Shipping secured the financing for the MV Selina in a deal of up to 25.7 million signed with ABN AMRO Bank N.V., which also includes another Panamax vessel delivered to the company on March 21, the Infinity 9. The MV Selina is chartered to Dampskibsselskabet Norden A/S, Copenhagen at a gross rate of USD 5,800 per day for a period of up to minimum October 15, 2016, to maximum February 15, 2017. The company has also entered into a time charter contract with SwissMarine Services S.A., Geneva for one of its Capesize dry bulk vessels, the MV Norfolk. The gross charter rate is USD 4,350 per day for a period of minimum nine to maximum twelve months and the charter is scheduled to start on March 28, 2016. The employments of Selina and Norfolk are anticipated to generate approx. USD 2.37 million of gross revenue for the minimum scheduled period of the time charters, based on Dianas estimates. The company said it was now expecting to take delivery of one Panamax vessel by the end of April 2016, one new-building Newcastlemax bulker during the third quarter of 2016, as well as two newbuilds, one Newcastlemax and one Kamsarmax, during the fourth quarter of 2016. Diana Shippings fleet currently consists of 45 dry bulk vessels, including the newly delivered Selina.