Diana Shipping Commissions Capesize Dry Bulk Carrier

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, has announced that, through a separate wholly-owned subsidiary, it took delivery of the m/v P. S. Palios (formerly JK Pioneer), a 2013 built Capesize dry bulk vessel of 179,134 dwt that the company entered into an agreement to purchase in October 2013.

As previously announced, the m/v P. S. Palios is time chartered to RWE Supply & Trading GmbH, Essen, Germany, at a gross charter rate of $18,350 per day, minus a 5% commission paid to third parties, for a period of about 22 months to maximum December 31, 2015. The charter is expected to commence tomorrow.

This employment is anticipated to generate approximately $11.8 million of gross revenue for the minimum scheduled period of the charter.