Diana Shipping Inc.,a global shipping company specializing in the transportation of dry bulk cargoes, today announced that it has entered into a time charter contract with Perseveranza Di Navigazione SpA for one of its Panamax dry bulk carriers, the Erato, at a gross rate of US$30,500 per day for a minimum eleven (11) to maximum thirteen (13) month period. This employment is expected to generate approximately US$10.2 million of gross revenues for the minimum scheduled period of the charter. The charter is expected to commence on or about December 9, 2006.
The Chairman and Chief Executive Officer of Diana Shipping, Simeon Palios, commented: "We are very pleased to have arranged this time charter with a respected European company which owns dry bulk vessels and also actively operates in the chartering of bulk carriers and tankers. This fixture also represents the fundamental nature of our current chartering strategy which aims at positioning our vessels in such a manner that we are able to exploit good market conditions as they arise. Our Company should benefit from the fact that four to five vessels in our fleet will come open for charter from now through the end of the first quarter of 2007."
Diana Shipping Inc. is a global provider of shipping transportation services. The Company specializes in transporting dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes. Diana Shipping Inc. priced its initial public offering of common stock on March 17, 2005.
Diana Shipping Inc. is a global provider of shipping transportation services. The Company specializes in transporting dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes. Diana Shipping Inc. priced its initial public offering of common stock on March 17, 2005.