Diana Shipping Takes Delivery of Kamsarmax Dry Bulk Carrier

Thursday, October 10, 2013

Diana Shipping Inc., a global shipping company specializing in the ownership and operation of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it took delivery of the MV Myrsini (formerly Stefania Lembo), a 2010 built Kamsarmax dry bulk vessel of 82,117 dwt. The acquisition of this vessel was originally announced on September 23, 2013.


The Myrsini is time chartered to Clearlake Shipping Pte. Ltd., Singapore, at a gross charter rate of $15,500 per day, minus a 4.75% commission paid to third parties, for a period of minimum four months to about six months. The charter is expected to commence tomorrow.

This employment is anticipated to generate approximately $1.9 million of gross revenue for the minimum scheduled period of the charter.

Including the newly delivered Myrsini, Diana Shipping Inc.'s fleet currently consists of 35 dry bulk vessels (two Newcastlemax, nine Capesize, three Post-Panamax, three Kamsarmax and 18 Panamax). The company also expects to take delivery of a secondhand Capesize dry bulk vessel in mid-November 2013, two new-building Ice Class Panamax dry bulk vessels between the fourth quarter of 2013 and the first quarter of 2014, and two newbuilding Newcastlemax dry bulk vessels during the second quarter of 2016. As of today, the combined carrying capacity of our fleet, excluding the five vessels not yet delivered, is approximately 3.9 million dwt with a weighted average age of 6.6 years.

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