Diana Shipping Inc. Announces Direct Continuation of Time Charter Contract for m/v Leto with Glencore
ATHENS, GREECE, December 27, 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 Glencore Agriculture B.V., Rotterdam, for one of its Panamax dry bulk vessels, the m/v Leto. The gross charter rate is US$12,500 per day, minus a 5% commission paid to third parties, for a period of minimum sixteen (16) months to about nineteen (19) months. The new charter period is expected to commence on January 3, 2018. The m/v Leto is currently chartered, as previously announced, at a gross charter rate of US$7,750 per day, minus a 5% commission paid to third parties.
The “Leto” is a 81,297 dwt Panamax dry bulk vessel built in 2010.
The employment extension of “Leto” is anticipated to generate approximately US$6.0 million of gross revenue for the minimum scheduled period of the time charter.
Diana Shipping Inc.’s fleet currently consists of 50 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 22 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.8 million dwt with a weighted average age of 8.35 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.
