Diana Announces Time Charter Contract for m/v Melia With United

Diana Shipping

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 United Bulk Carriers International S.A., Luxembourg, for one of its Panamax dry bulk vessels, the m/v Melia.

The gross charter rate is US$12,000 per day, minus a 5% commission paid to third parties, for a period of minimum seventeen (17) months to maximum twenty (20) months. The charter is expected to commence on April 20, 2018. The m/v Melia is currently chartered, as previously announced, to Nidera S.P.A., Roma, at a gross charter rate of US$9,500 per day, minus a 5% commission paid to third parties.

The “Melia” is a 76,225 dwt Panamax dry bulk vessel built in 2005.

This employment is anticipated to generate approximately US$6.12 million of gross revenue for the minimum scheduled period of the time charter.

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