Diana fixes newcastlemaxes “Newport News” and “Los Angeles” on period t/c with SwissMarine

Chartering, Dry Bulkcarriers, Markets, News, Statistics, Stock Markets — By on February 25, 2019 at 4:30 PM

Diana Shipping Inc. Announces Time Charter Contracts for m/v Newport News and m/v Los Angeles with SwissMarine

ATHENS, GREECE, February 25, 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 SwissMarine Services S.A., Geneva, for one of its Newcastlemax dry bulk vessels, the m/v Newport News. The gross charter rate is US$16,500 per day, minus a 5% commission paid to third parties, for a period of minimum sixteen (16) months to maximum nineteen (19) months. The charter is expected to commence later today.

The “Newport News” is a 208,021 dwt Newcastlemax dry bulk vessel built in 2017.

The Company also 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 Newcastlemax dry bulk vessels, the m/v Los Angeles. The gross charter rate is US$13,250 per day, minus a 5% commission paid to third parties, for a period of minimum fifteen (15) months to maximum eighteen (18) months. The charter is expected to commence on March 3, 2019.

The “Los Angeles” is a 206,104 dwt Newcastlemax dry bulk vessel built in 2012.

The employments of “Newport News” and “Los Angeles” are anticipated to generate approximately US$13.88 million of gross revenue for the minimum scheduled period of the time charters.

Upon completion of the previously announced sales of two Panamax dry bulk vessels, m/v Danae and m/v Dione, Diana Shipping Inc.’s fleet will consist of 46 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 18 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Danae and m/v Dione, is approximately 5.7 million dwt with a weighted average age of 9.29 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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