Diana Shipping Announces Time Charter Contract with SwissMarine

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(Image Courtesy: Marine Traffic)

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 G. P. Zafirakis.

The gross charter rate is US$17,000 per day, minus a 5% commission paid to third parties, for a period of minimum seventeen (17) months to maximum twenty (20) months. The charter is expected to commence on January 2, 2019.

The m/v G. P. Zafirakis is currently chartered, as previously announced, to RWE Supply & Trading GmbH, Essen, Germany, at a gross charter rate of US$15,000 per day, minus a 5% commission paid to third parties. The “G. P. Zafirakis” is a 179,492 dwt Capesize dry bulk vessel built in 2014.

This employment is anticipated to generate approximately US$8.67 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, 5 Post-Panamax, 5 Kamsarmax and 20 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 9.12 years.

Sea News, January 1

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