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Diana Shipping enters time charter contract with Glencore

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Dry Bulk,

Diana Shipping Inc., through a separate wholly-owned subsidiary, has entered into a time charter contract with Glencore Agriculture B.V., Rotterdam, for one of its kamsarmax dry bulk vessels, the m/v Maia.

The gross charter rate is US$10 125/day, minus a 5% commission paid to third parties, for a period of minimum 12 months to maximum 15 months. The charter is expected to commence on 27 July. The m/v Maia is currently chartered, as previously announced, to RWE Supply & Trading GmbH, Essen, at a gross charter rate of US$7500/day, minus a 5% commission paid to third parties.

The “Maia” is a 82 193 DWT kamsarmax dry bulk vessel built in 2009.

This employment is anticipated to generate approximately US$3.65 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 (four newcastlemax, 14 capesize, five post-panamax, five kamsarmax and 23 panamax). The combined carrying capacity of the company’s fleet is now approximately 5.9 million DWT with a weighted average age of 7.99 years.

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