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2006 November 28   07:39

Diana Shipping signs 1-year, $9.5M ship charter pact

Greek Diana Shipping Inc., which specializes in transporting dry bulk cargoes, said Monday it chartered its Panamax carrier "Dione" to a Singapore cargo company for a minimum of 11 months. Diana expects $9.5 million in gross revenue from the deal. The company reported third-quarter revenue of $30.6 million. Pacific Carriers Ltd. will pay $28,500 a day during the charter period for the "Dione," which was built in 2001 and is currently being used at $17,000 a day. Separately, Diana received a one-year, $200 million line of credit from the Bank of Scotland.

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