Reviews & Ratings for the Horizon-Hope

Diana Wilhelmsen Management Limited (DWM), a ship management company based in Cyprus, received sentencing in a US federal court on September 25, 2021, after admitting to violations of the Act to Prevent Pollution from Ships linked to the operations of the vessel 'Protefs'. As part of the ruling, DWM has been ordered to pay a hefty fine of $2 million, undergo four years of probation, and develop an extensive environmental compliance plan aimed at preventing future violations. The court revealed that crew members aboard the 'Protefs' were complicit in failing to accurately document the discharge of oily bilge water during the period from mid-April 2020 until just before the vessel docked in Newport News, Virginia, on June 10, 2020. Notably, the vessel had also made a previous stop in New Orleans, Louisiana, on June 1, 2020, arriving there with a fraudulent oil record book in hand. DWM confessed that the crew illicitly utilized an emergency dewatering system, allowing them to discharge oily waste directly into the ocean from the bilge holding tank, duct keel, and bilge wells without logging these actions as mandated. In a related case, the chief engineer of the 'Protefs', Vener Dailisan, was found guilty of providing false information to US Coast Guard inspectors regarding the absence of a sounding log. This log is a key document frequently checked by inspectors to confirm the precision of entries in the oil record book. As a result, Dailisan was sentenced to a $3,000 fine and placed on probation for a period of two years. The court's actions highlight the increasing scrutiny and accountability for maritime pollution violations and the importance of maintaining integrity in maritime operations.

Diana Shipping Inc. (NYSE: DSX), a leader in the global dry bulk shipping sector, has recently revealed plans to continue its time charter agreement for the m/v Protefs. This extension, confirmed through a wholly-owned subsidiary, comes as part of a deal with Hudson Shipping Lines Incorporated. Under the terms of the new contract, which is set to last between 12 to 15 months, the gross charter rate will reach US$11,000 per day. This figure accounts for a 3.75% commission payable to third parties. The new charter period is scheduled to commence on September 19, 2018. Currently, the m/v Protefs is contracted at a lower gross rate of US$7,900 per day, which includes a commission of 5% to third-party entities. This strategic move underscores Diana Shipping's commitment to maintaining strong partnerships and optimizing its fleet capabilities.

A new charter agreement has been successfully finalized for a vessel, with delivery scheduled from Shanghai between June 22 and June 24. The charter will last for a duration of 12 months at a rate of $7,900. This deal has been established with Chart Not Rep, marking a significant move in the shipping market.