Diana Shipping Inc. Announces Time Charter Contract for m/v Selina With ST Shipping

Nachrichtenquelle: globenewswire
08.07.2020, 15:12  |  122   |   |   

ATHENS, Greece, July 08, 2020 (GLOBE NEWSWIRE) -- 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 has entered into a time charter contract with ST Shipping and Transport Pte. Ltd., Singapore, for one of its Panamax dry bulk vessels, the m/v Selina. The gross charter rate is US$11,000 per day, minus a 5% commission paid to third parties, for a period of minimum twelve (12) months to maximum fourteen (14) months. The charter commenced on July 5, 2020. The m/v Selina was previously chartered to Cargill International S.A., Geneva, at a gross charter rate of US$4,750 per day, minus a 4.75% commission paid to third parties.

The “Selina” is a 75,700 dwt Panamax dry bulk vessel built in 2010.

This employment is anticipated to generate approximately US$3.96 million of gross revenue for the minimum scheduled period of the time charter.

Upon completion of the previously announced sale of one Panamax dry bulk vessel, the m/v Arethusa, Diana Shipping Inc.’s fleet will consist of 40 dry bulk vessels (4 Newcastlemax, 13 Capesize, 5 Post-Panamax, 5 Kamsarmax and 13 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Arethusa, is approximately 5.1 million dwt with a weighted average age of 9.81 years. A table describing the current Diana Shipping Inc. fleet can be found on the Company’s website, www.dianashippinginc.com. Information contained on the Company’s website does not constitute a part of this press release.

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.

Cautionary Statement Regarding Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.

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