Diana Announces Time Charter Contract for m/v P. S. Palios

Diana

Diana Shipping 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 P. S. Palios.

The gross charter rate is US$17,350 per day, minus a 5% commission paid to third parties, for a period of about thirteen months to maximum fifteen months.

The charter is expected to commence on May 24, 2018.

The m/v P. S. Palios is currently chartered, as previously announced, at a gross charter rate of US$10,550 per day, minus a 5% commission paid to third parties.

The “P. S. Palios” is a 179,134 dwt Capesize dry bulk vessel built in 2013.

This employment is anticipated to generate approximately US$6.51 million of gross revenue for the minimum scheduled period of the time charter.

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