Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels,
today announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with Transgrain Shipping B.V., Rotterdam, for one of its Panamax dry bulk vessels, the m/v Protefs. The gross charter rate is US$4,500 per day, minus a 5% commission paid to third parties, for a period of about twelve (12) months to maximum sixteen (16) months. The charter is expected to commence on February 22, 2016.
The “Protefs” is a 73,630 dwt Panamax dry bulk vessel built in 2004.
This employment is anticipated to generate approximately US$1.55 million of gross revenue for the minimum scheduled period of the time charter.