Diana Shipping announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with Glencore Grain B.V., Rotterdam, for one of its Panamax dry bulk vessels, the m/v Ismene.

The gross charter rate is US$5,850 per day, minus a 5% commission paid to third parties, for a period of about ten (10) months to about thirteen (13) months. The charter commenced yesterday.

The “Ismene” is a 77,901 dwt Panamax dry bulk vessel built in 2013.

This employment is anticipated to generate approximately US$1.67 million of gross revenue for the minimum scheduled period of the time charter.