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Diana Shipping enters time charter contract for a newcastlemax vessel

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Dry Bulk,

Through a separate wholly-owned subsidiary, Diana Shipping has entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its newcastlemax dry bulk vessels, the m/v Los Angeles, for a period of about 13 months to maximum 15 months.

The daily gross charter rate is 14% above the BCI_2014 average of the five pre-determined time charter routes as published by the Baltic Exchange minus a 5% commission paid to third parties. The charter commenced yesterday.

The “Los Angeles” is a 206 104 DWT newcastlemax dry bulk vessel built in 2012.

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