Diana fixes a capesize & a panamax, extends another cape timecharter

G P Zafirakis_Diana Shipping

Diana Shipping Inc. (NYSE:DSX), 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 RWE Supply & Trading GmbH, Essen, Germany, for one of its Capesize dry bulk vessels, the m/v G. P. Zafirakis, for a period of minimum fifteen (15) months to maximum eighteen (18) months. The gross charter rate is US$6,500 per day minus a 5% commission paid to third parties. The new charter period is expected to commence on February 14, 2016.

The “G. P. Zafirakis” is a 179,492 dwt Capesize dry bulk vessel built in 2014.

The Company also announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with Rio Tinto Shipping (Asia) Pte., Ltd., Singapore, for one of its Capesize dry bulk vessels, the m/v New York. The gross charter rate is US$5,200 per day, minus a 5% commission paid to third parties, for a period of minimum eleven (11) months to about fifteen (15) months. The charter commenced on February 3, 2016.

The “New York” is a 177,773 dwt Capesize dry bulk vessel built in 2010.

In addition, the Company announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with Nidera S.P.A., Roma, for one of its Panamax dry bulk vessels, the m/v Dione. The gross charter rate is US$4,350 per day, minus a 5% commission paid to third parties, for a period of about twelve (12) months to maximum fifteen (15) months. The charter commenced yesterday.

The “Dione” is a 75,172 dwt Panamax dry bulk vessel built in 2001.

The employment extension of “G. P. Zafirakis” and the employments of “New York” and “Dione” are anticipated to generate approximately US$6.14 million of gross revenue for the minimum scheduled period of the time charters.

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