Diana Shipping Inc. Announces Time Charter Contract

Diana Shipping Inc. (NYSE:DSX), today announced that it has entered into a time charter contract with EDF Trading Limited, London, through a separate wholly-owned subsidiary, for one of its Panamax dry bulk carriers, the m/v "Dione," at a gross charter rate of US$9,700 per day, minus a 5% commission paid to third parties, for a period of minimum twenty-four (24) months to maximum twenty-nine (29) months.

 

The charter is expected to commence in mid-July 2012. This employment is anticipated to generate approximately US$6.98 million of gross revenue for the minimum scheduled period of the charter. The Dione is a 75,172 dwt Panamax dry bulk vessel built in 2001.