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 Artemis.

The gross charter rate is US$12,600 per day, minus a 5% commission paid to third parties, for a period of minimum twelve months to maximum fifteen months.

The charter is expected to commence on September 18, 2018. The m/v Artemis is currently chartered, as previously announced, at a gross charter rate of US$9,000 per day, minus a 5% commission paid to third parties.

The “Artemis” is a 76,942 dwt Panamax dry bulk vessel built in 2006.

This employment is anticipated to generate approximately US$4.54 million of gross revenue for the minimum scheduled period of the time charter.