NYK Line secures another charter from Diana Shipping

Diana Shipping has announced that it has entered into a time charter contract with Nippon Yusen Kabushiki Kaisha (NYK Line) for one of its Capesize dry bulk vessels, the m/v G. P. Zafirakis.

The gross charter rate is US$26,800 per day, minus a 5.00% commission paid to third parties, for a period of a minimum of 23 months to a maximum of 26 months. The charter is expected to commence on September 9, 2024.

The G. P. Zafirakis was chartered, as previously announced, to Solebay Shipping Cape Company Limited, at a gross charter rate of US$17,000 per day, minus a 5.00% commission paid to third parties.

The G. P. Zafirakis is a 179,492 dwt Capesize dry bulk vessel built in 2014.

The employment of G. P. Zafirakis is anticipated to generate approximately US$18.49 million of gross revenue for the minimum scheduled period of the time charter.

In July, Diana Shipping extended the time charter contract for its vessel Los Angeles with NYK at a rate of US$28,700 per day.

Upon completion of the previously announced sale of m/v Houston, Diana Shipping Inc.’s fleet will consist of 38 dry bulk vessels: 4 Newcastlemax, 8 Capesize, 5 Post-Panamax, 6 Kamsarmax, 6 Panamax and 9 Ultramax.

The company also expects to take delivery of two methanol dual fuel new-building Kamsarmax dry bulk vessels by the second half of 2027 and the first half of 2028, respectively.

As of today, the combined carrying capacity of the company’s fleet including the m/v Houston and excluding the two vessels not yet delivered, is approximately 4.4 million dwt with a weighted average age of 11.06 years.

Credit: Diana Shipping