The 2012-built Newcastlemax dry bulk carrier “Philadelphia”. Image by Diana Shipping Inc.


The 2005-built Panamax dry bulk carrier “Calipso”. Image by Diana Shipping Inc.




Diana Shipping Inc. Announces Time Charter Contracts for m/v Philadelphia with Koch and m/v Calipso with Transgrain

Athens, Greece – March 8, 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 Koch Shipping Pte. Ltd., Singapore, for one of its Newcastlemax dry bulk vessels, the m/v Philadelphia. The gross charter rate is US$15,500 per day, minus a 5% commission paid to third parties, for a period of minimum ten (10) months to about thirteen (13) months. The charter is expected to commence on March 14, 2017.

The “Philadelphia” is a 206,040 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 Transgrain Shipping B.V., Rotterdam, for one of its Panamax dry bulk vessels, the m/v Calipso. The gross charter rate is US$9,000 per day, minus a 5% commission paid to third parties, for a period of about eleven (11) months to maximum fourteen (14) months. The charter is expected to commence on March 14, 2017.

The “Calipso” is a 73,691 dwt Panamax dry bulk vessel built in 2005.

The employments of “Philadelphia” and “Calipso” are anticipated to generate approximately US$7.49 million of gross revenue for the minimum scheduled period of the time charters.

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 7.77 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