Diana, EDF Enter Dry Bulk Charter Agreement

Diana Shipping Inc., a global shipping company specializing in the ownership and operation of dry bulk vessels, has announced that it has entered into a time charter contract with EDF Trading Ltd., U.K., through a separate wholly-owned subsidiary, for one of its Panamax dry bulk vessels, the m/v Thetis. 

The gross charter rate is $8,300 per day, minus a 5% commission paid to third parties, for a period of minimum 22 months to maximum 27 months. The charter is expected commence by the end of August 2013.

The Thetis is a 73,583 dwt Panamax dry bulk vessel built in 2004.

This employment is anticipated to generate approximately $5.5 million of gross revenue for the minimum scheduled period of the charter.