The the 2004-built panamax M/V Thetis.
Image by Diana Shipping Inc.






Diana Shipping Inc. Announces Time Charter Contract for m/v Thetis with Hudson

Athens, Greece - November 15, 2018

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 Hudson Shipping Lines Incorporated for one of its Panamax dry bulk vessels, the m/v Thetis. The gross charter rate is US$10,650 per day, minus a 3.75% commission paid to third parties, for a period of minimum fourteen (14) months to maximum seventeen (17) months. The charter is expected to commence tomorrow. The m/v Thetis was chartered, as previously announced, to Ausca Shipping Limited, Hong Kong, at a gross charter rate of US$8,350 per day, minus a 5% commission paid to third parties.

The “Thetis” is a 73,583 dwt Panamax dry bulk vessel built in 2004.

This employment is anticipated to generate approximately US$4.47 million of gross revenue for the minimum scheduled period of the time charter.

Upon completion of the previously announced sales of two Panamax dry bulk vessels, m/v Triton and m/v Alcyon, Diana Shipping Inc.’s fleet will consist of 48 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 20 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including m/v Triton and m/v Alcyon, is approximately 5.8 million dwt with a weighted average age of 9.23 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