Diana Shipping Inc. Announces Direct Continuation of Time Charter Contract for m/v Melia with Nidera
ATHENS, GREECE, March 16, 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 agreed to extend the present time charter contract with Nidera S.P.A., Roma, for one of its Panamax dry bulk vessels, the m/v Melia, for a period of about eleven (11) months to about thirteen (13) months. The gross charter rate is US$9,500 per day, minus a 5% commission paid to third parties. The new charter period is expected to commence on March 18, 2017.
The “Melia” is a 76,225 dwt Panamax dry bulk vessel built in 2005.
The employment extension of “Melia” is anticipated to generate approximately US$2.99 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, 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 7.79 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.
