Diana: Direct Continuation of Time Charter Agreement for m/v Clio

Diana-Shipping-MV-Clio-Panamax-dry-bulk-BIG

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, announced that, through a separate wholly-owned subsidiary, it agreed to extend the present time charter contract with Transgrain Shipping B.V., Rotterdam, for one of its Panamax dry bulk vessels, the m/v Clio. The gross charter rate is US$5,350 per day, minus a 5% commission paid to third parties, for a period of minimum eleven (11) months to maximum fourteen (14) months. The new charter period is expected to commence on May 5, 2016.

The “Clio” is a 73,691 dwt Panamax dry bulk vessel built in 2005.

The employment extension of “Clio” is anticipated to generate approximately US$1.77 million of gross revenue for the minimum scheduled period of the time charter.

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