Diana Shipping announces period T/C contracts for m/v Amphitrite with Uniper and m/v Naias with Phaethon

Chartering, Dry Bulkcarriers, Markets, Stock Markets — By on January 28, 2019 at 2:44 PM

Diana Shipping Inc. Announces Time Charter Contracts for m/v Amphitrite with Uniper and m/v Naias with Phaethon

ATHENS, GREECE, January 28, 2019 – 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 Uniper Global Commodities SE, Düsseldorf, for one of its Post-Panamax dry bulk vessels, the m/v Amphitrite, for a period of minimum fourteen (14) months to maximum seventeen (17) months. The gross charter rate is US$5,000 per day for the first five (5) days of the charter period and US$12,750 per day for the balance period of the time charter, in each case minus a 5% commission paid to third parties. The charter commenced yesterday. The m/v Amphitrite was chartered, as previously announced, to Cargill International S.A., Geneva, at a gross charter rate of US$11,150 per day, minus a 4.75% commission paid to third parties, for the agreed period of the time charter.

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

The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Phaethon International Company AG, for one of its Panamax dry bulk vessels, the m/v Naias. The gross charter rate is US$10,000 per day, minus a 5% commission paid to third parties, for a period of minimum twenty-three (23) months to about twenty-six (26) months. The charter commenced on January 26, 2019. The m/v Naias was chartered, as previously announced, at a gross charter rate of US$10,000 per day, minus a 5% commission paid to third parties, until January 26, 2019.

The “Naias” is a 73,546 dwt Panamax dry bulk vessel built in 2006.

The employments of “Amphitrite” and “Naias” are anticipated to generate approximately US$12.22 million of gross revenue for the minimum scheduled period of the time charters.

Diana Shipping Inc.’s fleet currently consists of 48 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 20 Panamax). As of today, the combined carrying capacity of our fleet is approximately 5.7 million dwt with a weighted average age of 9.21 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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