Athens, Greece - June 5, 2019
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 Capesize dry bulk vessels, the m/v P. S. Palios.
The gross charter rate is US$17,500 per day, minus a 5% commission paid to third parties, for a period of about eight (8) months to about nine (9) months. The charter commenced earlier today.
The m/v P. S. Palios was chartered, as previously announced, to Koch Shipping Pte. Ltd., Singapore, at a gross charter rate of US$17,350 per day, minus a 5% commission paid to third parties.
The “P. S. Palios” is a 179,134 dwt Capesize dry bulk vessel built in 2013.
This employment is anticipated to generate approximately US$3.94 million of gross revenue for the minimum scheduled period of the time charter.
Upon completion of the previously announced sale of one Panamax dry bulk vessel, the m/v Erato, Diana Shipping Inc.’s fleet will consist of 45 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 17 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Erato, is approximately 5.5 million dwt with a weighted average age of 9.32 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