Diana pushes back newbuilding brace; agrees charter for m/v Seattle

Palios

Diana Shipping announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Seattle.

The gross charter rate is US$7,300 per day minus a 4.75% commission paid to third parties, for a period of about eleven (11) months to maximum fourteen (14) months. The charter is expected to commence on December 9, 2015.

The “Seattle” is a 179,362 dwt Capesize dry bulk vessel built in 2011.

This employment is anticipated to generate approximately US$2.3 million of gross revenue for the minimum scheduled period of the time charter.

In addition, the Company announced that, through two separate wholly-owned subsidiaries, it signed two addenda with China Shipbuilding Trading Company, Limited and Jiangnan Shipyard (Group) Co., Ltd., to extend the delivery dates of the two Newcastlemax dry bulk carriers, Hull No. H2548 and Hull No. H2549, by approximately five months. The expected delivery dates are now in the third and fourth quarters of 2016.

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