Diana extends tc period with Glencore for panamax “Atalandi”

Chartering, Company Profiles, Dry Bulkcarriers, Fixtures, Markets, News, Stock Markets — By on April 9, 2015 at 1:33 PM

sideris GS FUNNELDIANA SHIPPING INC. ANNOUNCES DIRECT CONTINUATION OF TIME CHARTER AGREEMENT FOR M/V ATALANDI WITH GLENCORE 

ATHENS, GREECE, April 9, 2015 – 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 Grain B.V., Rotterdam, for one of its Ice Class Panamax dry bulk vessels, the m/v Atalandi, for a period of minimum eleven (11) months to maximum fourteen (14) months. The gross charter rate is US$7, 000 per day for the first thirty (30) days of the charter period and US$8, 000 per day for the balance period of the time charter, in each case minus a 5% commission paid to third parties. The new charter period is expected to commence on April 13, 2015.

The “Atalandi” is a 77, 529 dwt Ice Class Panamax dry bulk vessel built in 2014.

This employment extension is anticipated to generate approximately US$2.61 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 40 dry bulk vessels (2 Newcastlemax, 12 Capesize, 3 Post-Panamax, 3 Kamsarmax and 20 Panamax). The Company also expects to take delivery of two new-building Newcastlemax dry bulk vessels and one new-building Kamsarmax dry bulk vessel during the second quarter of 2016. As of today, the combined carrying capacity of our fleet, excluding the three vessels not yet delivered, is approximately 4.6 million dwt with a weighted average age of 7.0 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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