Diana Shipping Inc. Announces Time Charter Contract For m/v New Orleans With Kawasaki; The Employment Of "New Orleans" Is Anticipated To Generate ~$12.16M Of Gross Revenue For The Minimum Scheduled Period Of The Time Charter
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Diana Shipping Inc. (NYSE:DSX) has entered into a time charter contract with Kawasaki Kisen Kaisha, Ltd. for the Capesize dry bulk vessel m/v New Orleans. The contract, starting December 7, 2023, is at a daily rate of $20,000 (minus a 5% commission) and will last until at least August 15, 2025, with the potential to extend to October 31, 2025. This deal is expected to generate approximately $12.16 million in gross revenue for the minimum period. Following the sale of m/v Boston, Diana Shipping's fleet will include 40 dry bulk vessels with a combined carrying capacity of about 4.7 million dwt.
November 28, 2023 | 2:28 pm
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Diana Shipping Inc. has secured a time charter contract for its vessel m/v New Orleans with Kawasaki, expected to generate $12.16M in gross revenue.
The announcement of a new time charter contract is a positive development for Diana Shipping, indicating a stable revenue stream for the next couple of years. This is likely to be viewed favorably by investors, potentially leading to a short-term increase in the stock price. The confidence level is high due to the specificity of the revenue projection and the direct impact on the company's earnings.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100