DIANA SHIPPING INC. ANNOUNCES TIME CHARTER CONTRACTS FOR M/V SANTA BARBARA WITH CARGILL AND M/V SALT LAKE CITY WITH UNIPER
ATHENS, GREECE, January 18, 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 Cargill International S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Santa Barbara. The gross charter rate is US$12,000 per day, minus a 4.75% commission paid to third parties, for a period of about twelve (12) months to maximum fifteen (15) months. The charter is expected to commence on January 24, 2017.
The “Santa Barbara” is a 179,426 dwt Capesize dry bulk vessel built in 2015.
The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Uniper Global Commodities SE, Düsseldorf, for one of its Capesize dry bulk vessels, the m/v Salt Lake City. The gross charter rate is US$9,000 per day, minus a 5% commission paid to third parties, for a period of minimum twelve (12) months to maximum sixteen (16) months. The charter is expected to commence on January 20, 2017.
The “Salt Lake City” is a 171,810 dwt Capesize dry bulk vessel built in 2005.
The employments of “Santa Barbara” and “Salt Lake City” are anticipated to generate approximately US$7.38 million of gross revenue for the minimum scheduled period of the time charters.
Diana Shipping Inc.’s fleet currently consists of 48 dry bulk vessels (4 Newcastlemax, 14 Capesize, 3 Post-Panamax, 4 Kamsarmax and 23 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.7 million dwt with a weighted average age of 7.64 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.
