Diana fixes post-panamax Amphitrite on period to Cargill

Chartering, Company Profiles, Dry Bulkcarriers, Markets, News, Stock Markets — By on August 4, 2017 at 2:04 PM

DIANA SHIPPING INC. ANNOUNCES TIME CHARTER CONTRACT  FOR M/V AMPHITRITE WITH CARGILL

ATHENS, GREECE, August 4, 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 Cargill International S.A., Geneva, for one of its Post-Panamax dry bulk vessels, the m/v Amphitrite. The gross charter rate is US$11,150 per day, minus a 4.75% commission paid to third parties, for a period of minimum thirteen (13) months to maximum sixteen (16) months. The charter is expected to commence in late September 2017. The m/v Amphitrite is currently chartered, as previously announced, to Bunge S.A., Geneva, at a gross charter rate of US$7,700 per day, minus a 5% commission paid to third parties.

The “Amphitrite” is a 98,697 dwt Post-Panamax dry bulk vessel built in 2012.

This employment is anticipated to generate approximately US$4.35 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 8.01 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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