Diana Charters Panamax Bulker

Maritime Activity Reports, Inc.

October 13, 2015

Courtesy Diana Shipping

Courtesy Diana Shipping

 

Diana Shipping Inc. today 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 Panamax dry bulk vessels, the m/v Melite.

The gross charter rate is $7,250 per day minus a 4.75 percent commission paid to third parties, for a period of minimum 11 months to maximum 14 months. The charter is expected to commence tomorrow.

The Melite is a 76,436 dwt Panamax dry bulk vessel built in 2004. This employment is anticipated to generate approximately $2.39 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 41 dry bulk vessels (two Newcastlemax, 12 Capesize, three Post-Panamax, four Kamsarmax and 20 Panamax). The company also expects to take delivery of one new-building Capesize dry bulk vessel by the end of October 2015, one new-building Newcastlemax dry bulk vessel during the second quarter of 2016, as well as one new-building Kamsarmax dry bulk vessel and one new-building Newcastlemax dry bulk vessel during the third quarter of 2016. As of today, the combined carrying capacity of the company’s fleet, excluding the four vessels not yet delivered, is approximately 4.7 million dwt with a weighted average age of 7.51 years.

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