Diana Shipping Announces Glencore Contract

Diana Shipping Inc., through a  separate wholly-owned subsidiary, has entered into a time charter contract with Glencore Grain B.V., Rotterdam, for one of its Kamsarmax dry bulk vessels, the m/v Myrto.

The gross charter rate is $9,850  per day minus a 5% commission paid to third parties, for a period of  minimum 11 months to maximum 14 months. The  charter is expected to commence on January 7, 2015.

The Myrto is a 82,131 dwt Kamsarmax dry bulk vessel built in 2013.

This employment is anticipated to generate approximately $3.25  million of gross revenue for the minimum scheduled period of the time  charter.