Diana Newcastlemax in $2.13m RWE deal

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 entered into a time charter contract with RWE Supply & Trading GmbH, Essen, Germany, for one of its Newcastlemax dry bulk vessels, the m/v Philadelphia. The gross charter rate is US$6,450 per day, minus a 5% commission paid to third parties, for a period of minimum eleven (11) months to maximum fourteen (14) months. The charter commenced yesterday.

The “Philadelphia” is a 206,040 dwt Newcastlemax dry bulk vessel built in 2012.

This employment is anticipated to generate approximately US$2.13 million of gross revenue for the minimum scheduled period of the time charter.