Diana Shipping Takes Delivery of Two Newcastlemax Drybulk Vessels

Diana Shipping said Wednesday that it has taken delivery of the m/v San Francisco and the m/v Newport News, two new building Newcastlemax dry bulk vessels that were contracted in May 2013.

The m/v San Francisco has been time chartered to Koch Shipping Pte. Ltd. at a rate of $11,750 per day. The employment is expected to generate approximate $4.2 million in gross revenues.

The m/v Newport News has been time chartered to SwissMarine Services with employment expected to commence on Jan. 9.

The company also said that it has completed a drawdown of $57.2 million from its previously announced term loan facility with the Export-Import Bank of China to partially finance the acquisition of the vessels.

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