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Diana Shipping enters time charter contract with DHL

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Dry Bulk,

Through a separate wholly-owned subsidiary, Diana Shipping Inc., a global shipping company specialising in the ownership of dry bulk vessels, has entered into a time charter contract with DHL Project & Chartering Ltd, Hong Kong, for one of its panamax dry bulk vessels, the m/v Ismene.

The gross charter rate is US$12000/day, minus a 5% commission paid to third parties, for a period of minimum 12 months to maximum 15 months. The charter is expected to commence on 16 September 2017.

The m/v Ismene is currently chartered, as previously announced, to Glencore Grain B.V., Rotterdam, at a gross charter rate of US$5850/day, minus a 5% commission paid to third parties.

The “Ismene” is a 77 901 DWT panamax dry bulk vessel built in 2013.

This employment is anticipated to generate approximately US$4.32 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 (four newcastlemax, 14 capesize, five post-panamax, five kamsarmax and 23 panamax). The combined carrying capacity of the company’s fleet currently stands at approximately 5.9 million DWT with a weighted average age of 8.11 years.

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