Diana Shipping Announces Time Charter Contract for m/v Boston

Diana

Diana Shipping, a global shipping company specializing in the ownership of dry bulk vessels, announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with EGPN Bulk Carrier Co., Limited, Hong Kong, for one of its Capesize dry bulk vessels, the m/v Boston.

The gross charter rate is US$17,000 per day, minus a 5% commission paid to third parties, for a period of minimum sixteen (16) months to maximum nineteen (19) months. The charter commenced yesterday. The m/v Boston was chartered, as previously announced, to Clearlake Shipping Pte. Ltd., Singapore, at a gross charter rate of US$13,000 per day, minus a 4.75% commission paid to third parties, for the agreed period of the time charter.

The “Boston” is a 177,828 dwt Capesize dry bulk vessel built in 2007.

This employment is anticipated to generate approximately US$8.16 million of gross revenue for the minimum scheduled period of the time charter.

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