Diana Shipping Announces Time Charter Contract for m/v Polymnia

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Diana Shipping Inc. on Thursday announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Al Ghurair Resources International L.L.C., Dubai, for one of its Post-Panamax dry bulk vessels, the m/v Polymnia.

The gross charter rate is US$14,500 per day, minus a 5% commission paid to third parties, for a period of minimum twelve months to about fourteen months. The charter is expected to commence on October 23, 2019.

The “Polymnia” is a 98,704 dwt Post-Panamax dry bulk vessel built in 2012.

This employment is anticipated to generate approximately US$5.22 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 43 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 15 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.3 million dwt with a weighted average age of 9.39 years.

Sea News, October 11