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Diana Shipping extends a contract for a panamax vessel with Nidera

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Dry Bulk,

Diana Shipping Inc., through a separate wholly-owned subsidiary, has agreed to extend the present time charter contract with Nidera S.P.A., Roma, for one of its panamax dry bulk vessels, the m/v Melia, for a period of about 11 months to about 13 months.

The gross charter rate is US$9500 per day, minus a 5% commission paid to third parties. The new charter period is expected to commence on 18 March 2017.

The “Melia” is a 76 225 DWT panamax dry bulk vessel built in 2005.

The employment extension of “Melia” is anticipated to generate approximately US$2.99 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 48 dry bulk vessels and the combined carrying capacity of the company’s fleet is approximately 5.7 million DWT with a weighted average age of 7.79 years.

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