Diana MV Boston Chartered by Clearlake

Friday, July 05, 2013

Diana Shipping Inc., a global shipping company specializing in the ownership and operation of dry bulk vessels, announced that it has entered into a time charter contract with Clearlake Shipping Pte., Ltd., Singapore, a member of the Gunvor Group, through a separate wholly-owned subsidiary, for one of its Capesize dry bulk carriers, the MV Boston. The gross charter rate is $14,250 per day, minus a 4.75% commission paid to third parties, for a period of about 24-29 months. The charter is expected to commence at the end of August 2013.

The Boston is a 177,828 dwt Capesize dry bulk vessel built in 2007.

This employment is anticipated to generate approximately $10 million of gross revenue for the minimum scheduled period of the charter.

Diana Shipping Inc.'s fleet currently consists of 33 dry bulk carriers (two Newcastlemax, nine Capesize, three Post-Panamax, two Kamsarmax and 17 Panamax). The company also expects to take delivery of one Panamax vessel during September 2013, two newbuilding Ice Class Panamax vessels during the fourth quarter of 2013 and the first quarter of 2014, and two newbuilding Newcastlemax vessels during the second quarter of 2016. As of today, the combined carrying capacity of our current fleet, excluding the five vessels not yet delivered, is approximately 3.7 million dwt with a weighted average age of 6.4 years.


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