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 Glencore Agriculture B.V., Rotterdam, for one of its Panamax dry bulk vessels, the m/v Arethusa.
The gross charter rate is US$12,600 per day, minus a 5% commission paid to third parties, for a period of minimum twelve (12) months to maximum fifteen (15) months. The charter is expected to commence on April 25, 2018. The m/v Arethusa is currently chartered, as previously announced, to Noble Resources International Pte. Ltd., Singapore, at a gross charter rate of US$7,200 per day, minus a 5% commission paid to third parties.
The “Arethusa” is a 73,593 dwt Panamax dry bulk vessel built in 2007.
This employment is anticipated to generate approximately US$4.54 million of gross revenue for the minimum scheduled period of the time charter.