Diana Shipping Signs Time Charter Contract with Caravel

Maritime Activity Reports, Inc.

February 2, 2017

m/v Dione. Photo: Diana Shipping Inc.

m/v Dione. Photo: Diana Shipping Inc.

 Diana Shipping has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Caravel Shipping Limited, Hong Kong, for one of its Panamax dry bulk vessels, the m/v Dione, for a period of minimum nine (9) months to about twelve (12) months. 

 
The gross charter rate is US$7,200 per day for the first ninety (90) days of the charter period and US$7,050 per day for the balance period of the time charter, in each case minus a 5% commission paid to third parties.
 
The charter is expected to commence on February 4, 2017. The “Dione” is a 75,172 dwt Panamax dry bulk vessel built in 2001.
 
This employment is anticipated to generate approximately US$1.92 million of gross revenue for the minimum scheduled period of the time charter.
 
Diana Shipping Inc.’s fleet currently consists of 48 dry bulk vessels (4 Newcastlemax, 14 Capesize, 3 Post-Panamax, 4 Kamsarmax and 23 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.7 million dwt with a weighted average age of 7.68 years
 
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