Diana Agrees Direct Continuation of Time Charter Agreement for m/v Maia

Diana_Shipping_mv Maia

Diana Shipping announced through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with RWE Supply & Trading GmbH, Essen, Germany, for one of its Kamsarmax dry bulk vessels, the m/v Maia, for a period of minimum seventeen (17) months to maximum twenty (20) months.

The gross charter rate is US$7,500 per day, minus a 5% commission paid to third parties. The new charter period is expected to commence on November 11, 2015.

The “Maia” is a 82,193 dwt Kamsarmax dry bulk vessel built in 2009.

This employment extension is anticipated to generate approximately US$3.8 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 (2 Newcastlemax, 12 Capesize, 3 Post-Panamax, 4 Kamsarmax and 20 Panamax). The Company also expects to take delivery of one new-building Capesize dry bulk vessel and one Capesize dry bulk vessel by mid-November 2015, one new-building Newcastlemax dry bulk vessel during the second quarter of 2016, as well as one new-building Kamsarmax dry bulk vessel and one new-building Newcastlemax dry bulk vessel during the third quarter of 2016.

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