Diana Shipping Agrees Time Charter Contract for m/v Dione with Ausca

Diana-Shipping-Panamax-dry-bulk-mv-dione

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Ausca Shipping Limited, Hong Kong, for one of its Panamax dry bulk vessels, the m/v Dione.

The gross charter rate is US$10,350 per day, minus a 5% commission paid to third parties, for a period of minimum fourteen (14) months to about seventeen (17) months. The charter is expected to commence on January 23, 2018. The m/v Dione is currently chartered, as previously announced, to Caravel Shipping Limited, Hong Kong, at a gross charter rate of US$7,200 per day for the first ninety (90) days of the charter period and US$7,050 per day for the balance period of the time charter, in each case minus a 5% commission paid to third parties.

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

This employment is anticipated to generate approximately US$4.35 million of gross revenue for the minimum scheduled period of the time charter.

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