DIANA SHIPPING INC. ANNOUNCES DIRECT CONTINUATION OF TIME CHARTER CONTRACT FOR M/V G. P. ZAFIRAKIS WITH RWE
ATHENS, GREECE, August 3, 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 agreed to extend the present time charter contract with RWE Supply & Trading GmbH, Essen, Germany, for one of its Capesize dry bulk vessels, the m/v G. P. Zafirakis. The gross charter rate is US$15,000 per day, minus a 5% commission paid to third parties, for a period of about fourteen (14) months to maximum seventeen (17) months. The new charter period will commence on August 14, 2017. The m/v G. P. Zafirakis is currently chartered, as previously announced, at a gross charter rate of US$6,500 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.
The employment extension of “G. P. Zafirakis” is anticipated to generate approximately US$6.08 million of gross revenue for the minimum scheduled period of the time charter.
Diana Shipping Inc.’s fleet currently consists of 51 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 23 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.9 million dwt with a weighted average age of 8.01 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.
