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 Phaethon International Company AG, for one of its Panamax dry bulk vessels, the m/v Clio. The gross charter rate is US$8,550 per day, minus a 5% commission paid to third parties, for a period of minimum thirteen (13) months to maximum sixteen (16) months. The charter is expected to commence on July 3, 2017.
The “Clio” is a 73,691 dwt Panamax dry bulk vessel built in 2005.
This employment is anticipated to generate approximately US$3.33 million of gross revenue for the minimum scheduled period of the time charter.o