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Diana Shipping acquires another capesize vessel

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Dry Bulk,

Yesterday, through a separate wholly-owned subsidiary, Athens-based global provider of shipping transportation services Diana Shipping Inc., entered into a time charter contract with Singapore-based shipping company Koch Shipping Pte. Ltd., Singapore, for one of its capesize dry bulk vessels, the m/v Seattle. The gross charter rate is reportedly US$24 000/d, minus a 5% commission paid to third parties, for a 4 – 6 month period.

The charter commenced yesterday. As previously announced, the m/v Seattle was chartered at a gross charter rate of US$11 700/d, minus a 5% commission paid to third parties.

The Seattle is a 179 362 DWT capesize dry bulk vessel built in 2011.

This employment is anticipated to generate approximately US$2.88 million of gross revenue for the minimum scheduled period of the time charter.

Prior to this addition, Diana Shipping Inc.’s fleet consisted of 50 dry bulk vessels (4 newcastlemax, 14 capesize, 5 post-panamax, 5 kamsarmax and 22 panamax). As of yesterday, the combined carrying capacity of the company’s fleet is approximately 5.8 million DWT with a weighted average age of 8.94 years.

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