Diana Fixes Capesize Newbuilding and Panamax

zoom Greek dry bulk ship owner Diana Shipping has entered into a time charter contract with SwissMarine Services S.A., Geneva, for a Capesize newbuilding currently under construction at Chinas Shanghai Waigaoqiao Shipbuilding. The gross charter rate for the 180,000 dwt bulker, to be named New Orleans, is USD 11,650 per day minus a 5% commission paid to third parties, for a period of minimum eleven months to about fifteen months. The charter is expected to start in November 2015, upon delivery of the vessel. Diana has also entered into a time charter contract with Nidera S.P.A., Roma, for one of its Panamax dry bulk vessels, the 2005-built m/v Melia. The gross charter rate for the 76,225 bulker is USD 7,200 per day minus a 5% commission paid to third parties, for a period of minimum thirteen months to maximum sixteen months. The charter is expected to start by the end of October, 2015. The employments of New Orleans and Melia are anticipated to generate approximately USD 6.65 million of gross revenue for the minimum scheduled period of the time charters.