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Diana Shipping Inc. enters time charter contract with SwissMarine for capesize vessel

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Dry Bulk,

Yesterday, Diana Shipping, Inc., a global shipping company specialising in the ownership of dry bulk vessels, through a separate wholly-owned subsidiary entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its capesize dry bulk vessels, the m/v Houston.

According to the company, the gross charter rate is US$19 000/day, minus a 5% commission paid to third parties, for a period of about 9 - 11 months. The charter is expected to commence on May 2018. The m/v Houston is currently chartered, as previously announced, at a gross charter rate of US$10 000/day, minus a 5% commission paid to third parties.

The Houston is a 177 729 DWT Capesize dry bulk vessel built in 2009. This employment is anticipated to generate approximately US$4.85 million of gross revenue for the minimum scheduled period of the time charter. Diana Shipping Inc.’s fleet currently consists of 50 dry bulk vessels (4 newcastlemax, 14 capesize, 5 post-panamax, 5 kamsarmax and 22 panamax). With this new addition, the combined carrying capacity of the company’s fleet is approximately 5.8 million DWT with a weighted average age of 8.71 years.

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