Diana fixes cape “New Orleans” on period t/c with SwissMarine

Chartering, Dry Bulkcarriers, Markets, News, Stock Markets, Trade and Commerce — By on March 22, 2018 at 1:36 PM

Diana Shipping Inc. Announces Time Charter Contract for m/v New Orleans with SwissMarine

ATHENS, GREECE, March 22, 2018 – 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 SwissMarine Services S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v New Orleans. The gross charter rate is US$21,000 per day, minus a 5% commission paid to third parties, for a period of minimum eleven (11) months to maximum thirteen (13) months. The charter is expected to commence on March 25, 2018. The m/v New Orleans is currently chartered, as previously announced, to Koch Shipping Pte. Ltd., Singapore, at a gross charter rate of US$11,250 per day, minus a 5% commission paid to third parties.

The “New Orleans” is a 180,960 dwt Capesize dry bulk vessel built in 2015.

This employment is anticipated to generate approximately US$6.93 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 50 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 22 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.8 million dwt with a weighted average age of 8.58 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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