Diana Charters Out Two Bulkers

 

Diana Shipping Inc. a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it agreed to extend the present time charter contract with RWE Supply & Trading GmbH, Essen, Germany, for one of its Capesize dry bulk vessels, the m/v Santa Barbara, for a period of minimum twelve (12) months to maximum fifteen (15) months. The gross charter rate is US$7,500 per day minus a 5% commission paid to third parties. The new charter period is expected to commence on December 18, 2015.

The “Santa Barbara” is a 179,426 dwt Capesize dry bulk vessel built in 2015.

The Company also announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with Cargill International S.A., Geneva, for one of its Post-Panamax dry bulk vessels, the m/v Polymnia. The gross charter rate is US$5,650 per day, minus a 4.75% commission paid to third parties, for a period of about twelve (12) months to maximum fifteen (15) months. The charter commenced today.

The “Polymnia” is a 98,704 dwt Post-Panamax dry bulk vessel built in 2012.

The employment extension of “Santa Barbara” and the employment of “Polymnia” are anticipated to generate approximately US$4.65 million of gross revenue for the minimum scheduled period of the time charters.

Diana Shipping Inc.’s fleet currently consists of 43 dry bulk vessels (2 Newcastlemax, 14 Capesize, 3 Post-Panamax, 4 Kamsarmax and 20 Panamax). The Company also expects to take delivery of one new-building Kamsarmax dry bulk vessel and one new-building Newcastlemax dry bulk vessel during the third quarter of 2016 as well as one new-building Newcastlemax dry bulk vessel during the fourth quarter of 2016.