Diana fixes post-panamax “Polymnia” on period to Cargill

Chartering, Dry Bulkcarriers, Fixtures, Markets, News, Stock Markets — By on July 2, 2018 at 3:23 PM

DIANA SHIPPING INC. ANNOUNCES DIRECT CONTINUATION OF TIME CHARTER CONTRACT FOR M/V POLYMNIA WITH CARGILL

ATHENS, GREECE, July 2, 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 agreed to extend the present time charter contract with Cargill International S.A., Geneva, for one of its Post-Panamax dry bulk vessels, the m/v Polymnia. The gross charter rate is US$16,000 per day, minus a 4.75% commission paid to third parties, for a period of minimum fourteen (14) months to maximum seventeen (17) months. The new charter period is expected to commence on July 8, 2018. The m/v Polymnia is currently chartered, as previously announced, at a gross charter rate of US$10,100 per day, minus a 4.75% commission paid to third parties.

The “Polymnia” is a 98,704 dwt Post-Panamax dry bulk vessel built in 2012.

The employment extension of “Polymnia” is anticipated to generate approximately US$6.72 million of gross revenue for the minimum scheduled period of the time charter extension.

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 8.86 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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