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 has entered into a time charter contract with Caravel Shipping Limited, Hong Kong, for one of its Panamax dry bulk vessels, the m/v Dione, for a period of minimum nine (9) months to about twelve (12) months. The gross charter rate is US$7,200 per day for the first ninety (90) days of the charter period and US$7,050 per day for the balance period of the time charter, in each case minus a 5% commission paid to third parties. The charter is expected to commence on February 4, 2017.
The “Dione” is a 75,172 dwt Panamax dry bulk vessel built in 2001.
This employment is anticipated to generate approximately US$1.92 million of gross revenue for the minimum scheduled period of the time charter.