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DIANA SHIPPING INC. ANNOUNCES TIME CHARTER CONTRACT FOR M/V ISMENE WITH PHAETHON
ATHENS, GREECE, January 9, 2020 – 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 Phaethon International Company AG, for one of its Panamax dry bulk vessels, the m/v Ismene. The gross charter rate is US$10,800 per day, minus a 5% commission paid to third parties, for a period of minimum thirteen (13) months to about fifteen (15) months. The charter is expected to commence on January 11, 2020.
The “Ismene” is a 77,901 dwt Panamax dry bulk vessel built in 2013.
This employment is anticipated to generate approximately US$4.21 million of gross revenue for the minimum scheduled period of the time charter.
Upon completion of the previously announced sale of one Panamax dry bulk vessel, the m/v Calipso, Diana Shipping Inc.’s fleet will consist of 41 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 13 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.2 million dwt with a weighted average age of 9.56 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.
