Diana Shipping announces time charter contract for m/v Naias with Phaethon

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, today announced 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 Naias, the company said in its press release. The gross charter rate is US$10,000 per day, minus a 5% commission paid to third parties, for a period of about fifteen (15) months to maximum eighteen (18) months. The charter is expected to commence on November 24, 2017. The m/v Naias was chartered, as previously announced, to Glencore Agriculture B.V., Rotterdam, at a gross charter rate of US$7,500 per day, minus a 5% commission paid to third parties.
 
The “Naias” is a 73,546 dwt Panamax dry bulk vessel built in 2006.
 
This employment is anticipated to generate approximately US$4.35 million of gross revenue for the minimum scheduled period of the time charter.
 
Diana Shipping Inc.’s fleet currently consists of 50 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 22 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.8 million dwt with a weighted average age of 8.23 years.
 
About the Company
 
Diana Shipping Inc. is a 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.