Home MarketsChartering Diana Shipping Inc. Announces Time Charter Contract for m/v Myrto with Solebay

Diana Shipping Inc. Announces Time Charter Contract for m/v Myrto with Solebay

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Diana Shipping Inc. Announces Time Charter Contract for m/v Myrto with Solebay
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ATHENS, GREECE, September 10, 2021 – 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 Solebay Shipping Transocean Company Limited, for one of its Kamsarmax dry bulk vessels, the m/v Myrto. The gross charter rate is US$28,500 per day, minus a 5% commission paid to third parties, for a period until minimum August 15, 2022 up to maximum October 15, 2022. The charter commenced earlier today. The m/v Myrto was chartered, as previously announced, to Cargill International S.A., Geneva, at a gross charter rate of US$10,000 per day, minus a 4.75% commission paid to third parties. 

The “Myrto” is a 82,131 dwt Kamsarmax dry bulk vessel built in 2013.

The employment of “Myrto” is anticipated to generate approximately US$9.55 million of gross revenue for the minimum scheduled period of the time charter. 

Diana Shipping Inc.’s fleet currently consists of 36 dry bulk vessels (4 Newcastlemax, 12 Capesize, 5 Post-Panamax, 5 Kamsarmax and 10 Panamax). The Company also expects to take delivery of one Kamsarmax dry bulk vessel by the end of February 2022. As of today, the combined carrying capacity of the Company’s fleet, excluding the one vessel not yet delivered, is approximately 4.6 million dwt with a weighted average age of 10.48 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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