Direct Continuation of Time Charter Contract for m/v Polymnia with Cargill

Diana Shipping

Diana Shipping, a global shipping company specializing in the ownership of dry bulk vessels, announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Cargill International S.A., Geneva, for one of its Post-Panamax dry bulk vessels, the m/v Polymnia, for a period of about thirteen (13) months to maximum sixteen (16) months.

The gross charter rate is US$10,100 per day, minus a 4.75% commission paid to third parties. The new charter period is expected to commence on March 15, 2017.

The “Polymnia” is a 98,704 dwt Post-Panamax dry bulk vessel built in 2012.

The employment extension of “Polymnia” is anticipated to generate approximately US$3.79 million of gross revenue for the minimum scheduled period of the time charter.

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