DIANA SHIPPING INC. ANNOUNCES TIME CHARTER CONTRACTS FOR M/V NEW YORK WITH SINGAPORE MARINE AND M/V BOSTON WITH OLDENDORFF
ATHENS, GREECE, June 10, 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 Singapore Marine Pte. Ltd., Singapore, for one of its Capesize dry bulk vessels, the m/v New York. The gross charter rate is US$15,500 per day, minus a 5% commission paid to third parties, for a period of minimum seventeen (17) months to about nineteen (19) months. The charter commenced on June 7, 2019.
The “New York” is a 177,773 dwt Capesize dry bulk vessel built in 2010.
The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Oldendorff Carriers GmbH & Co. KG, Lübeck, Germany, for one of its Capesize dry bulk vessels, the m/v Boston. The gross charter rate is US$15,300 per day, minus a 5% commission paid to third parties, for a period until minimum April 1, 2021 up to maximum June 30, 2021. The charter commenced on June 7, 2019.
The “Boston” is a 177,828 dwt Capesize dry bulk vessel built in 2007.
The employments of “New York” and “Boston” are anticipated to generate approximately US$17.91 million of gross revenue for the minimum scheduled period of the time charters.
Diana Shipping Inc.’s fleet currently consists 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 our fleet is approximately 5.5 million dwt with a weighted average age of 9.26 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.
