Diana Shipping Announces New Time Charter Contracts

Palios

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Uniper Global Commodities SE, Düsseldorf, for one of its Post-Panamax dry bulk vessels, the m/v Amphitrite, for a period of minimum fourteen months to maximum seventeen months.

The gross charter rate is US$5,000 per day for the first five days of the charter period and US$12,750 per day for the balance period of the time charter, in each case minus a 5% commission paid to third parties. The charter commenced yesterday. The m/v Amphitrite was chartered, as previously announced, to Cargill International S.A., Geneva, at a gross charter rate of US$11,150 per day, minus a 4.75% commission paid to third parties, for the agreed period of the time charter.

The “Amphitrite” is a 98,697 dwt Post-Panamax dry bulk vessel built in 2012.

The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Phaethon International Company AG, for one of its Panamax dry bulk vessels, the m/v Naias. The gross charter rate is US$10,000 per day, minus a 5% commission paid to third parties, for a period of minimum twenty-three (23) months to about twenty-six (26) months. The charter commenced on January 26, 2019. The m/v Naias was chartered, as previously announced, at a gross charter rate of US$10,000 per day, minus a 5% commission paid to third parties, until January 26, 2019.

The “Naias” is a 73,546 dwt Panamax dry bulk vessel built in 2006.

The employments of “Amphitrite” and “Naias” are anticipated to generate approximately US$12.22 million of gross revenue for the minimum scheduled period of the time charters.

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