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Diana Shipping Inc.’s time charter contract with SwissMarine

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Dry Bulk,

Diana Shipping Inc., a global shipping company specialising in the ownership of dry bulk vessels, has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with SwissMarine Pte Ltd, Singapore, for one of its Post-Panamax dry bulk vessels, the m/v Electra. The gross charter rate is US$12 500/d, minus a 5% commission paid to third parties, for a period until maximum 30 March 2021. The charter commenced on 4 January 2021. The m/v Electra was chartered, as previously announced, to Oldendorff Carriers GMBH & Co. KG, Lübeck, Germany, at a gross charter rate of US$10 250/d, minus a 5% commission paid to third parties.

The Electra is a 87 150 DWT Post-Panamax dry bulk vessel built in 2013.

The employment of Electra is anticipated to generate approximately US$1.06 million of gross revenue for the minimum scheduled period of the time charter.

Upon completion of the previously announced sales of two Panamax dry bulk vessels, the m/v Coronis and the m/v Oceanis, and one Capesize dry bulk vessel, the m/v Sideris GS, Diana Shipping Inc.’s fleet will consist of 37 dry bulk vessels (4 Newcastlemax, 12 Capesize, 5 Post-Panamax, 5 Kamsarmax and 11 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Coronis, the m/v Oceanis and the m/v Sideris GS, is approximately 5.0 million DWT with a weighted average age of 10.27 years.

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