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Diana Shipping enters into time charter contract with BG Shipping

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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 BG Shipping Co., Limited, Hong Kong, for one of its post-panamax dry bulk vessels, the m/v Alcmene.

The gross charter rate is US$11 500/day, minus a 5% commission paid to third parties, for a period of minimum 11 months to maximum 14 months. The charter commenced earlier on 21 November.

The Alcmene is a 93 193 DWT post-panamax dry bulk vessel built in 2010.

This employment is anticipated to generate approximately US$3.8 million of gross revenue for the minimum scheduled period of the time charter.

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