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Diana Shipping signs Panamax time charter contract with Ausca Shipping

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Dry Bulk,

Diana Shipping Inc. has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Ausca Shipping Ltd, Hong Kong, for one of its Panamax dry bulk vessels, the M/V Melia.

The gross charter rate is US$10 000 per day, plus US$500 000 gross ballast bonus, minus a 5% commission paid to third parties, for a period of approximately 8 - 10 months. The charter is expected to commence on 20 August 2020.

The Melia is a 76 225 dwt Panamax dry bulk vessel, built in 2005.

This employment is anticipated to generate approximately US$2.75 million of gross revenue for the minimum scheduled period of the time charter.

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