Diana Agrees Charter for M/V Coronis

 

Diana Shipping Inc. announced today that through a separate wholly-owned subsidiary, it entered into a time charter contract with Sandgate Maritime Ltd for one of its Panamax dry bulk vessels, the m/v Coronis. The gross charter rate is US$6,500 per day, minus a 5% commission paid to third parties, for a period of minimum nine (9) months to maximum twelve (12) months. The charter commenced on July 3, 2015.

The “Coronis” is a 74,381 dwt Panamax dry bulk vessel built in 2006.

Additionally, the Company announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with RWE Supply & Trading GmbH, Essen, Germany, for one of its Capesize dry bulk vessels, the m/v P. S. Palios, for a period of up to minimum December 31, 2016 to maximum March 31, 2017. The new gross charter rate is US$13,000 per day, minus a 5% commission paid to third parties. The new charter period is expected to commence on September 18, 2015.

The “P. S. Palios” is a 179,134 dwt Capesize dry bulk vessel built in 2013.

The Company also announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Bunge S.A., Geneva, for one of its Post-Panamax dry bulk vessels, the m/v Amphitrite, for a period of about twenty-two (22) months to about twenty-five (25) months. The new gross charter rate is US$7,700 per day, minus a 5% commission paid to third parties. The new charter period is expected to commence on July 15, 2015.

The “Amphitrite” is a 98,697 dwt Post-Panamax dry bulk vessel built in 2012.

The new employment of “Coronis,” as well as the employment extensions of “P. S. Palios” and “Amphitrite,” are anticipated to generate approximately US$12.73 million of gross revenue for the minimum scheduled period of the time charters.