Diana: Direct Continuation of Time Charter Contract for m/v Electra

Diana

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Uniper Global Commodities SE, Düsseldorf, for one of its Post-Panamax dry bulk vessels, the m/v Electra.

The gross charter rate is US$13,500 per day, minus a 5% commission paid to third parties, for a period until minimum September 15, 2019 and maximum December 15, 2019. The new charter period commenced on October 19, 2018. The m/v Electra was chartered, as previously announced, at a gross charter rate of US$8,000 per day, minus a 5% commission paid to third parties.

The “Electra” is a 87,150 dwt Post-Panamax dry bulk vessel built in 2013.

The employment extension of “Electra” is anticipated to generate approximately US$4.40 million of gross revenue for the minimum scheduled period of the time charter extension.

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