Home MarketsChartering Diana Shipping Inc. Announces Time Charter Contract for m/v Artemis with Glencore

Diana Shipping Inc. Announces Time Charter Contract for m/v Artemis with Glencore

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Diana Shipping Inc. Announces Time Charter Contract for m/v Artemis with Glencore

ATHENS, GREECE, November 30, 2020 – 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 Panamax dry bulk vessels, the m/v Artemis. The gross charter rate is US$10,250 per day, minus a 5% commission paid to third parties, for a period until minimum January 5, 2022 up to maximum March 30, 2022. The charter commenced earlier today. The m/v Artemis was chartered, as previously announced, to  Koch Shipping Pte. Ltd., Singapore, at a gross charter rate of US$10,150 per day, minus a 5% commission paid to third parties.  

The “Artemis” is a 76,942 dwt Panamax dry bulk vessel built in 2006.

This employment is anticipated to generate approximately US$4.06 million of gross revenue for the minimum scheduled period of the time charter. 

Upon completion of the previously announced sales of one Panamax dry bulk vessel, the m/v Coronis, and one Capesize dry bulk vessel, the m/v Sideris GS, Diana Shipping Inc.’s fleet will consist of 38 dry bulk vessels (4 Newcastlemax, 12 Capesize, 5 Post-Panamax, 5 Kamsarmax and 12 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Coronis and the m/v Sideris GS  is approximately 5.0 million dwt with a weighted average age of 10.15 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.

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