Diana Shipping Inc. announces time charter contract for m/v Dione with Caravel | Dry Bulk

Diana Shipping Inc. announces time charter contract for m/v Dione with Caravel

Diana Shipping Inc. (NYSE:DSX) (the ‘Company’), a global shipping company specialising 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 months to about 12 months. The gross charter rate is US$7200/day for the first ninety (90) days of the charter period and US$7050/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 4 February, 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.

Diana Shipping Inc.’s fleet currently consists of 48 dry bulk vessels (4 Newcastlemax, 14 Capesize, 3 Post-Panamax, 4 Kamsarmax and 23 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.7 million DWT with a weighted average age of 7.68 years. A table describing the current Diana Shipping Inc. fleet can be found on the company’s website, www.dianashippinginc.com. Information contained on the company’s website does not constitute a part of this press release.

Louise Mulhall

Editorial Assistant

Louise joined Palladian Publications in July 2015, and is currently working as an editorial assistant on World Coal, Dry Bulk and Global Mining Review.

Louise recently graduated from the University of Warwick with a BA in French Language and is currently living in Farnham. Away from work Louise loves travelling, languages, and enjoys hiking, especially around her family home in the hills of Snowdonia.

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Diana Shipping Inc. announces time charter contract for m/v Dione with Caravel

Louise Mulhall

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