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Diana Shipping enters time charter contract with Cargill

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Dry Bulk,

Diana Shipping Inc., through a separate wholly-owned subsidiary, has entered into a time charter contract with Cargill International S.A., Geneva, for one of its post-panamax dry bulk vessels, the m/v Amphitrite.

The gross charter rate is US$11 150/day, minus a 4.75% commission paid to third parties, for a period of minimum 13 months to maximum 16 months. The charter is expected to commence in late September 2017. The m/v Amphitrite is currently chartered, as previously announced, to Bunge S.A., Geneva, at a gross charter rate of US$7700 per day, minus a 5% commission paid to third parties.

The “Amphitrite” is a 98 697 DWT post-panamax dry bulk vessel built in 2012.

This employment is anticipated to generate approximately US$4.35 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 51 dry bulk vessels (4 newcastlemax, 14 capesize, 5 post-panamax, 5 kamsarmax and 23 panamax). The combined carrying capacity of the company’s fleet is approximately 5.9 million DWT with a weighted average age of 8.01 years.

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