Diana Shipping fixes out newcastlemax to Bohai Ocean Shipping

Greek bulker owner Diana Shipping has entered into a time charter contract with Bohai Ocean Shipping for one of its newcastlemax vessels.

The company hired the 2017-built, 208,021 dwt bulker Newport News. The gross charter rate is $25,000 per day, minus a 5% commission paid to third parties, for a period until a minimum of September 1, 2026, up to a maximum of October 31, 2026.

The day rate during the new deal will be higher than the vessels’ current deal with NYK, which stands at $20,000 per day, minus a 5% commission paid to third parties. 

The charter is expected to begin on June 14, 2025. The employment of the bulker is anticipated to generate approximately $10.95m of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping’s fleet consists of 37 dry bulk vessels – four newcastlemaxes, eight capesizes, four post-panamaxes, six kamsarmaxes, six panamaxes, and nine ultramaxes.

The company also expects to take delivery of two methanol dual-fuel newbuilding kamsarmax bulkers by the second half of 2027 and the first half of 2028, respectively.

Currently, the combined carrying capacity of the fleet, excluding the two vessels not yet delivered, is approximately 4.1m dwt with a weighted average age of 11.59 years.