Diana fixes panamax “Alcyon” with Hudson on period

Chartering, Dry Bulkcarriers, Markets — By on July 13, 2017 at 2:40 PM

ATHENS, GREECE, July 13, 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 entered into a time charter contract with Hudson Shipping Lines Incorporated for one of its Panamax dry bulk vessels, the m/v Alcyon. The gross charter rate is US$8,800 per day, minus a 5% commission paid to third parties, for a period of minimum twelve (12) months to maximum fifteen (15) months. The charter is expected to commence on July 21, 2017. The m/v Alcyon is currently chartered, as previously announced, to Dampskibsselskabet Norden A/S, Copenhagen, at a gross charter rate of US$5,000 per day, minus a 5% commission paid to third parties.

The “Alcyon” is a 75,247 dwt Panamax dry bulk vessel built in 2001.

This employment is anticipated to generate approximately US$3.17 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 7.95 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.

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