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Diana Shipping Inc. announces time charter contract for m/v Alcyon with Norden

May 9, 2016

Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with Dampskibsselskabet Norden A/S, Copenhagen, for one of its  Panamax dry bulk vessels, the m/v Alcyon. The gross charter rate is US$5,000 per day, minus a 5% commission paid to third parties, for a period of minimum twelve (12) months to maximum sixteen (16) months. The charter commenced earlier today.

The “ Alcyon” is a 75,247 dwt Panamax dry bulk vessel built in 2001.

This employment is anticipated to generate approximately US$1.8 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 45 dry bulk vessels (2 Newcastlemax, 14 Capesize, 3 Post-Panamax, 4 Kamsarmax and 22 Panamax). The Company also expects to take delivery of one Panamax dry bulk vessel by the beginning of May 2016, one new-building Newcastlemax dry bulk vessel during the third quarter of 2016, as well as one new-building Newcastlemax dry bulk vessel and one new-building Kamsarmax dry bulk vessel during the fourth quarter of 2016. As of today, the combined carrying capacity of the Company’s fleet, excluding the four vessels not yet delivered, is approximately 5.2 million dwt with a weighted average age of 7.6 years.

 

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