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Diana Shipping Time Charter for MV Coronis and Cancellation of Sale of MV Norfolk

Logistic News - Published on Tue, 25 Feb 2020

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Diana Shipping Inc announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Koch Shipping Pte. Ltd Singapore, for one of its Panamax dry bulk vessels, the MV Coronis. The gross charter rate is USD 8,000 per day, minus a 5% commission paid to third parties, for a period of about nine months to about ten months. The charter commenced earlier today. The MV Coronis was previously chartered to Tongli Shipping Pte. Ltd, at a gross charter rate of USD 5,300 per day, minus a 5% commission paid to third parties. The Coronis is a 74,381 dwt Panamax dry bulk vessel built in 2006.

The Company also announced that it has received a notice of cancellation of the Memorandum of Agreement, between a separate wholly-owned subsidiary and an unaffiliated third party, to sell the 2002-built Capesize vessel “Norfolk”, as previously announced. The buyers elected to exercise their right to cancel the Contract as a result of vessel’s missing the cancelling date stipulated therein, due to unforeseen events, unrelated to the condition of the vessel, and have requested the refund of the deposit of the purchase price. The Company has taken steps to release the deposit to the buyers.

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Posted By : Rabi Wangkhem on Tue, 25 Feb 2020
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