Diana Charters Out Two Bulkers

Athens-based dry bulk shipping company Diana Shipping has extended a charter contract for its Capesize dry bulk vessel M/V Santa Barbara with German RWE Supply & Trading GmbH, for a period of twelve to fifteen months.

The new charter period is expected to commence on December 18, 2015, at a gross charter rate of USD 7,500 per day minus a 5 percent commission paid to third parties.

The Santa Barbara is a 179,426 dwt Capesize dry bulk vessel built in 2015.

Diana also announced that it entered into a time charter contract with Cargill International S.A., Geneva, for its Post-Panamax dry bulk vessel the M/V Polymnia. The gross charter rate is USD 5,650 per day, minus a 4.75 percent commission paid to third parties, for a period of about twelve to maximum fifteen months. The charter commenced today.

The Polymnia is a 98,704 dwt Post-Panamax dry bulk vessel built in 2012.

The employment extension of Santa Barbara and the employment of Polymnia are anticipated to generate approximately USD 4.65 million of gross revenue for the minimum scheduled period of the time charters.

Diana Shipping Inc.’s fleet currently consists of 43 dry bulk vessels, with one new-building Kamsarmax dry bulk vessel and one new-building Newcastlemax dry bulk vessel expected to join the fleet during the third quarter of 2016, and an additional new-building Newcastlemax dry bulk vessel during the fourth quarter of 2016.

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