Delivery of Post-Panamax dry bulk vessel m/v Phaidra
Tuesday, May 16, 2017
  • Time Charter Contract for m/v Semirio with Koch and Direct Continuation of Time Charter Contract for m/v Coronis with Narina

Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, announced that, through a separate wholly-owned subsidiary, it has taken delivery of the m/v Phaidra (formerly “Soya May”), a 2013 built Post-Panamax dry bulk vessel of 87,146 dwt that the Company entered into an agreement to purchase in April 2017.
 
The Company also announced that, through a separate wholly-owned subsidiary,  it has entered into a time charter contract with Koch Shipping Pte. Ltd., Singapore for one of its Capesize dry bulk vessels, the m/v Semirio. The gross charter rate is US$14,150 per day, minus a 5% commission paid to third parties, for a period of minimum twelve (12) months to maximum sixteen (16) months. The charter is expected to commence on May 20, 2017.

The “Semirio” is a 174,261 dwt Capesize dry bulk vessel built in 2007.

Additionally, the Company announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Narina Maritime Ltd, for one of its Panamax dry bulk vessels, the m/v Coronis, for a period of minimum eleven (11) months to maximum fourteen (14) months. The gross charter rate is US$9,000 per day, minus a 5% commission paid to third parties. The new charter period is expected to commence on May 17, 2017.

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

The employment of “Semirio” as well as the employment extension of “Coronis” are anticipated to generate approximately US$8.06 million of gross revenue for the minimum scheduled period of the time charters.

Including the newly delivered m/v Phaidra, Diana Shipping Inc.’s fleet currently consists of 49 dry bulk vessels (4 Newcastlemax, 14 Capesize, 4 Post-Panamax, 4 Kamsarmax and 23 Panamax). The Company also expects to take delivery of one Post-Panamax dry bulk vessel by the end of May 2017 as well as one Kamsarmax dry bulk vessel by the end of May 2017. As of today, the combined carrying capacity of our fleet, excluding the two vessels not yet delivered, is approximately 5.75 million dwt with a weighted average age of 7.90 years.

For more information, please visit:  http://www.dianashippinginc.com

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