Diana Shipping Inc. Announces Time Charter Contract for m/v Crystalia with Glencore
ATHENS, GREECE, October 3, 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 entered into a time charter contract with Glencore Agriculture B.V., Rotterdam, for one of its Ice Class Panamax dry bulk vessels, the m/v Crystalia. The gross charter rate is US$11,100 per day, minus a 5% commission paid to third parties, for a period of minimum twelve (12) months to about fifteen (15) months. The charter is expected to commence later today. The m/v Crystalia is currently chartered, as previously announced, to SwissMarine Services S.A., Geneva, at a gross charter rate of US$6,250 per day, minus a 5% commission paid to third parties.
The “Crystalia” is a 77,525 dwt Ice Class Panamax dry bulk vessel built in 2014.
This employment is anticipated to generate approximately US$4.0 million of gross revenue for the minimum scheduled period of the time charter.
Diana Shipping Inc.’s fleet currently consists of 51 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 23 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.9 million dwt with a weighted average age of 8.18 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.
