Diana Announces Time Charter Contract for m/v Los Angeles

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 SwissMarine Services S.A., Geneva, for one of its Newcastlemax dry bulk vessels, the m/v Los Angeles. The gross charter rate is US$19,150 per day, minus a 5% commission paid to third parties, for a period of about nine (9) months to maximum twelve (12) months. The charter is expected to commence on April 17, 2018.

The “Los Angeles” is a 206,104 dwt Newcastlemax dry bulk vessel built in 2012.

This employment is anticipated to generate approximately US$4.88 million of gross revenue for the minimum scheduled period of the time charter.

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