Diana Panamax bulker time chartered out at $8,100 per day

FEBRUARY 5, 2019 — Athens headquartered dry bulk specialist Diana Shipping Inc. (NYSE: DSX) reports 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 Danae.

The gross charter rate is $8,100 per day, minus a 5% commission paid to third parties, for a period of minimum eleven months to maximum fourteen) months. The charter is expected to commence later today. Phaethon, which currently has three Diana panamaxes on charter, was previously paying $10,000 per day for the Danae.

The Danae is a 75,106 dwt Panamax dry bulk vessel built in 2001.

This employment is anticipated to generate approximately $2.67 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 48 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 20 Panamax).