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Diana Shipping Inc. announces time charter contract

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Dry Bulk,

Diana Shipping Inc., a global shipping company specialising in the owner-ship of dry bulk vessels, has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Reachy International (HK) Co., Limited, for one of its Panamax dry bulk vessels, the m/v Protefs.

The gross charter rate is US$10 650/d, minus a 5% commission paid to third parties, for a period until minimum 10 March 2022 up to maximum 20 May 2022. The charter commenced earlier this week. The m/v Protefs was chartered, as previously announced, to Phaethon International Company AG, at a gross charter rate of US$9900/d, minus a 5% commission paid to third parties.

The Protefs is a 73 630 DWT Panamax dry bulk vessel built in 2004.

The employment of Protefs is anticipated to generate approximately US$4.17 million of gross revenue for the minimum scheduled period of the time charter.

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