Diana Announces Time Charter Contract for m/v Baltimore

Diana

Diana Shipping, a global shipping company specializing in the ownership of dry bulk vessels, announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Koch Shipping Pte. Ltd., Singapore, for one of its Capesize dry bulk vessels, the m/v Baltimore.

The gross charter rate is US$18,050 per day, minus a 5% commission paid to third parties, for a period of about twelve (12) months to about fourteen (14) months. The charter commenced earlier today. The m/v Baltimore was chartered, as previously announced, to Cargill International S.A., Geneva, at a gross charter rate of US$11,300 per day, minus a 4.75% commission paid to third parties.

The “Baltimore” is a 177,243 dwt Capesize dry bulk vessel built in 2005.

This employment is anticipated to generate approximately US$6.23 million of gross revenue for the minimum scheduled period of the time charter.

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