Diana Shipping announces time charter contract for m/v Philadelphia

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Nippon Yusen Kabushiki Kaisha, Tokyo, for one of its Newcastlemax dry bulk vessels, the m/v Philadelphia. The gross charter rate is US$22,500, minus a 5% commission paid to third parties, for a period until minimum April 20, 2025 up to maximum July 20, 2025. The charter is expected to commence on February 5, 2024. The “Philadelphia” is a 206,040 dwt Newcastlemax dry bulk vessel built in 2012. The employment of “Philadelphia” is anticipated to generate approximately US$9.79 million of gross revenue for the minimum scheduled period of the time charter.