Diana fixes Capesize “P.S.Palios” on period to C Transport

Chartering, Company Profiles, Dry Bulkcarriers, Markets — By on March 26, 2020 at 2:10 PM

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DIANA SHIPPING INC. ANNOUNCES TIME CHARTER  CONTRACT FOR M/V P. S. PALIOS WITH C TRANSPORT

ATHENS, GREECE, March 26, 2020 – 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 C Transport Maritime Ltd., Bermuda, for one of its Capesize dry bulk vessels, the m/v P. S. Palios, for a period of about thirteen (13) months to maximum fifteen (15) months. The gross charter rate is US$6,000 per day for the first thirty five (35) days of the charter period and US$12,050 per day for the balance period of the time charter, in each case minus a 5% commission paid to third parties. The charter commenced on March 24, 2020.

The “P. S. Palios” is a 179,134 dwt Capesize dry bulk vessel built in 2013.

This employment is anticipated to generate approximately US$4.31 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 41 dry bulk vessels (4 Newcastlemax, 13 Capesize, 5 Post-Panamax, 5 Kamsarmax and 14 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.1 million dwt with a weighted average age of 9.52 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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