Diana announces “Myrsini’s” direct T/C continuation with Clearlake

Chartering, Fixtures, Markets — By on January 27, 2014 at 1:59 PM

sideris GS FUNNELDIANA SHIPPING INC. ANNOUNCES DIRECT CONTINUATION OF THE TIME CHARTER AGREEMENT FOR M/V MYRSINI WITH CLEARLAKE 

ATHENS, GREECE, January 27, 2014 – Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, today announced that it has agreed to extend the present time charter contract with Clearlake Shipping Pte. Ltd., Singapore, for one of its Kamsarmax dry bulk vessels, the m/v “Myrsini”. The gross charter rate will remain US$15,500 per day, minus a 4.75% commission paid to third parties, for a period of up to minimum February 15, 2015 to maximum May 10, 2015. The new charter period is expected to commence by mid- February 2014.

The “Myrsini” is a 82,117 dwt Kamsarmax dry bulk vessel built in 2010.

This employment is anticipated to generate approximately US$5.6 million of gross revenue for the minimum scheduled period of the charter extension.

Diana Shipping Inc.’s fleet currently consists of 36 dry bulk vessels (2 Newcastlemax, 10 Capesize, 3 Post-Panamax, 3 Kamsarmax and 18 Panamax). The Company also expects to take delivery of two new-building Ice Class Panamax dry bulk vessels during the first quarter of 2014 as well as 2 new-building Newcastlemax dry bulk vessels and one Kamsarmax dry bulk vessel during the second quarter of 2016. As of today, the combined carrying capacity of our fleet, excluding the five vessels not yet delivered, is approximately 4.1 million dwt with a weighted average age of 6.66 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 leading 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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