Diana Shipping Announces Time Charter Contract

 Diana Shipping Inc. (NYSE:DSX), a global shipping company specializing in the ownership  and operation of dry bulk vessels, entered into a time charter contract with Glencore Grain B.V., Rotterdam,  through a separate wholly-owned subsidiary, for one of its Kamsarmax  dry bulk carriers, the m/v Maia.

 

The gross charter rate is US$10,900  per day, minus a 5% commission paid to third parties, for a period of  about eighteen (18) months to maximum twenty-four (24) months. The  charter is expected to commence at the end of February 2013.

 The Maia is a 82,193 dwt Kamsarmax dry bulk vessel built in 2009.
 

 This employment is anticipated to generate approximately $5.7  million of gross revenue for the minimum scheduled period of the charter.