Diana Announces Time Charter Contract for m/v Ismene with Phaethon

Palios

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 Phaethon International Company AG, for one of its Panamax dry bulk vessels, the m/v Ismene.

The gross charter rate is US$10,800 per day, minus a 5% commission paid to third parties, for a period of minimum thirteen (13) months to about fifteen (15) months. The charter is expected to commence on January 11, 2020.

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

This employment is anticipated to generate approximately US$4.21 million of gross revenue for the minimum scheduled period of the time charter.

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