Diana Shipping Inc. announces time charter contract for m/v Triton with Bunge

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, today announced that it has entered into a time charter contract with Bunge S.A., Geneva, through a separate wholly-owned subsidiary, for one of its Panamax dry bulk vessels, the m/v “Triton”. The gross charter rate is US$11,000 per day, minus a 5% commission paid to third parties, for a period of up to minimum September 1, 2014 to maximum October 31, 2014. The charter is expected to commence on December 8, 2013, the company said in its press release.
 
The Triton is a 75,336 dwt Panamax dry bulk vessel built in 2001.
 
This employment is anticipated to generate approximately US$2.86 million of gross revenue for the minimum scheduled period of the charter.
 
Diana Shipping Inc.’s fleet currently consists of 35 dry bulk vessels (2 Newcastlemax, 9 Capesize, 3 Post-Panamax, 3 Kamsarmax and 18 Panamax). The Company also expects to take delivery of 1 Capesize dry bulk vessel at the beginning of December 2013, 2 new-building Ice Class Panamax dry bulk vessels during the first quarter of 2014, and 2 new-building Newcastlemax dry bulk vessels during the second quarter of 2016. As of today, the combined carrying capacity of our fleet, excluding the five vessels not yet delivered, is approximately 3.9 million dwt with a weighted average age of 6.76 years. A table describing the current Diana Shipping Inc. fleet can be found on the Company’s website, www.dianashippinginc.com. Information contained on the Company’s website does not constitute a part of this press release.
 
About the Company
 
Diana Shipping Inc. is a leading global provider of shipping transportation services through its ownership of dry bulk vessels. The Company’s vessels are employed primarily on medium to long-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.