Diana Shipping: Time Charter Contract for m/v New Orleans With SwissMarine

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 SwissMarine Services S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v New Orleans.

The gross charter rate is US$21,000 per day, minus a 5% commission paid to third parties, for a period of minimum eleven (11) months to maximum thirteen (13) months. The charter is expected to commence on March 25, 2018. The m/v New Orleans is currently chartered, as previously announced, to Koch Shipping Pte. Ltd., Singapore, at a gross charter rate of US$11,250 per day, minus a 5% commission paid to third parties.

The “New Orleans” is a 180,960 dwt Capesize dry bulk vessel built in 2015.

This employment is anticipated to generate approximately US$6.93 million of gross revenue for the minimum scheduled period of the time charter.

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