High Shipping Costs Are Here to Stay, Says Bloomberg
By Henry Ren (Bloomberg) Stubbornly high shipping expenses for businesses are getting sealed into contracts for the next 12 months, forcing companies to pass the extra costs on to consumers....
Greek shipping company, Diana Containerships Inc. (NASDAQ: DCIX), announced today that they had taken delivery of the Panamax container vessel, MV APL Spinel, a 4,750 TEU containership. This follows last month’s announcement of the delivery of MV APL Sardonyx
Built in 1996 by Samsung Heavy Industries, APL Spinel is currently on a 24-month (plus/minus 45 days) charter to APL Bermuda Ltd at a day rate of US$24,750 with an option for a one-year (plus/minus 45 day) extension at a rate of US$28,000. Daily rates include a total commission of 2% paid to third parties and Diana Shipping Services S.A. The employment of the vessel is anticipated to generate approximately US$16.7 million of revenues for the minimum agreed period of the charter.
Separately, Diana Containerships Inc. also announced today that it has completed the drawdown of an additional US$8.8 million under the previously announced revolving credit facility of up to US$100 million with The Royal Bank of Scotland plc, which may be increased to US$150 million subject to further syndication. With the drawdown announced today, Diana Containerships Inc. has completed the drawdown of a total of US$92.7 million under the above mentioned revolving credit facility.
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