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Diana Shipping enters into time charter contract with Pacific Bulk

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Dry Bulk,

Diana Shipping Inc., a global shipping company specialising in the ownership of dry bulk vessels, announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Pacific Bulk Cape Company Limited, Hong Kong, for one of its capesize dry bulk vessels, the m/v Semirio.

The gross charter rate is US$20 050/d, minus a 5% commission paid to third parties, for a period of minimum 10 months to about 12 months. The charter is expected to commence on 30 August 2018. The m/v Semirio is currently chartered, as previously announced, to Koch Shipping Pte. Ltd., Singapore, at a gross charter rate of US$14 150/d, minus a 5% commission paid to third parties.

The Semirio is a 174 261 dwt capesize dry bulk vessel built in 2007.

This employment is anticipated to generate approximately US$6.02 million of gross revenue for the minimum scheduled period of the time charter.

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