Diana Shipping announces time charter contract for m/v Houston with SwissMarine

Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, through a separate wholly-owned subsidiary has entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Houston, the Company said in a press release.

The gross charter rate is US$19,000 per day, minus a 5% commission paid to third parties, for a period of about nine (9) months to about eleven (11) months. The charter is expected to commence on May 9, 2018. The m/v Houston is currently chartered, as previously announced, at a gross charter rate of US$10,000 per day, minus a 5% commission paid to third parties.

The “Houston” is a 177,729 dwt Capesize dry bulk vessel built in 2009.

This employment is anticipated to generate approximately US$4.85 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 8.71 years.

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.