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Diana Shipping enters time charter contract with SwissMarine

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Dry Bulk,

Diana Shipping Inc., through a separate wholly-owned subsidiary, has entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its capesize dry bulk vessels, the m/v Norfolk.

The gross charter rate is US$13 250/day, minus a 5% commission paid to third parties, for a period of minimum 21 months to maximum 24 months.

The charter is expected to commence on 1 December 2017. The m/v Norfolk is currently chartered to Trafigura Maritime Logistics Pte. Ltd., Singapore, at a gross charter rate of US$12 000/day, minus a 5% commission paid to third parties.

The “Norfolk” is a 164 218 DWT capesize dry bulk vessel built in 2002.

This employment is anticipated to generate approximately US$8.35 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 50 dry bulk vessels (four newcastlemax, 14 capesize, five post-panamax, five kamsarmax and 22 panamax. The combined carrying capacity of the company’s fleet is now approximately 5.8 million DWT with a weighted average age of 8.26 years.

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