The 206,104 dwt Newcastlemax, 2012-built dry bulk carrier m/v Los Angeles.
Image by Diana Shipping Inc.




The 75,700 dwt Panamax, 2010-built dry bulk carrier "Selina".
Image by Diana Shipping Inc.












Diana Shipping Inc. Announces Time Charter Contracts for m/v Los Angeles with SwissMarine and m/v Selina with BG Shipping

Athens, Greece – January 23, 2017

Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it 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 thirteen (13) months to maximum fifteen (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.

The Company also 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 Panamax dry bulk vessels, the m/v Selina, for a period of minimum nine (9) months to about twelve (12) months. The gross charter rate is US$4,500 per day for the first thirty (30) days of the charter period and US$7,100 per day for the balance period of the time charter, in each case minus a 5% commission paid to third parties. The charter is expected to commence on January 24, 2017.

The “Selina” is a 75,700 dwt Panamax dry bulk vessel built in 2010.

The employment of “Selina” is anticipated to generate approximately US$1.84 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 48 dry bulk vessels (4 Newcastlemax, 14 Capesize, 3 Post-Panamax, 4 Kamsarmax and 23 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.7 million dwt with a weighted average age of 7.65 years. A table describing the current Diana Shipping Inc. fleet can be found on the Company’s website, www.dianashippinginc.com. Information contained on the Company’s website does not constitute a part of this press release.

About the Company
Diana Shipping Inc. is a global provider of shipping transportation services through its ownership of dry bulk vessels. The Company’s vessels are employed primarily on medium to long-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.

Diana Shipping Inc. press release