Slashed Charter Rate for Dianas MV Houston

Diana Greek dry bulk shipping company Diana Shipping Inc. has entered into a time charter contract with Geneva-based SwissMarine Services S.A. for one of its Capesize dry bulk vessels, the m/v Houston. The gross charter rate is USD 5,150 per day, minus a 5% commission paid to third parties, for a period of minimum eleven to maximum fourteen months. The charter is expected to commence on January 30, 2016. According to Diana, the employment is anticipated to generate approximately USD 1.7 million of gross revenue for the minimum scheduled period of the time charter. The Capesize bulker is fresh from a one-year charter with RWE Supply & Trading GmbH from Essen, Germany. Last years gross charter rate was considerably higher for the bulker and amounted to USD 12,750 per day. The vessel’s employment was anticipated to generate almost four times higher gross revenue from the current one of USD 4.59 million for the scheduled period of 12 months. The Houston is a 177,729 dwt Capesize dry bulk vessel built in 2009.