Home » Diana Shipping Inc. Announces Time Charter Contracts for m/v Alcmene with SwissMarine, m/v G. P. Zafirakis and m/v Ismene with Cargill

Diana Shipping Inc. Announces Time Charter Contracts for m/v Alcmene with SwissMarine, m/v G. P. Zafirakis and m/v Ismene with Cargill

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Diana Shipping Inc. Announces Time Charter Contracts for m/v Alcmene with SwissMarine, m/v G. P. Zafirakis and m/v Ismene with Cargill

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ATHENS, GREECE, November 22, 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 SwissMarine Pte Ltd., Singapore, for one of its Post-Panamax dry bulk vessels, the m/v Alcmene. The gross charter rate is US$17,100 per day, minus a 5% commission paid to third parties, for a time charter period until minimum December 20, 2022 up to maximum March 5, 2023. The charter is expected to commence on November 24, 2021. 

The “Alcmene” is a 93,193 dwt Post-Panamax 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 Cargill International S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v G. P. Zafirakis. The gross charter rate is US$22,750 per day, minus a 4.75% commission paid to third parties, for a period until minimum November 1, 2022 up to December 31, 2022. The charter is expected to commence on December 3, 2021. The m/v G. P. Zafirakis is currently chartered, as previously announced, to Koch Shipping Pte. Ltd., Singapore, at a gross charter rate of US$13,200 per day, minus a 5% commission paid to third parties.

The “G. P. Zafirakis” is a 179,492 dwt Capesize dry bulk vessel built in 2014.

In addition, the Company announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Cargill International S.A., Geneva, for one of its Panamax dry bulk vessels, the m/v Ismene. The gross charter rate is US$18,500 per day, minus a 4.75% commission paid to third parties, for a a time charter period until minimum December 15, 2022 up to maximum February 15, 2023. The charter is expected to commence tomorrow. The m/v Ismene is currently chartered, as previously announced, to Tongli Shipping Pte. Ltd., at a gross charter rate of US$16,500 per day, minus a 5% commission paid to third parties.

The “Ismene” is a 77,901 dwt Panamax dry bulk vessel built in 2013.

The employments of “Alcmene”, “G. P. Zafirakis” and “Ismene” are anticipated to generate approximately US$21.13 million of gross revenue for the minimum scheduled period of the time charters. 

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 10.68 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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