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Diana Shipping Inc. announces time charter contract for m/v Clio with Phaethon

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Dry Bulk,

Diana Shipping Inc. has announced that it has entered into a time charter contract with Phaethon International Company AG, for one of its panamax dry bulk vessels, the m/v Clio.

The gross charter rate is US$8550 per day, minus a 5% commission paid to third parties, for a period of minimum thirteen (13) months to maximum sixteen (16) months. The charter is expected to commence on 3 July, 2017.

The 'Clio' is a 73 691 DWT panamax dry bulk vessel built in 2005.

This employment is anticipated to generate approximately US$3.33 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 (4 newcastlemax, 14 capesize, five post-panamax, five kamsarmax and 23 panamax). As of today, the combined carrying capacity of the company’s fleet is approximately 5.9 million DWT with a weighted average age of 7.89 years.

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