Diana Fixes Panamax

Athens-headquartered dry bulk shipping company Diana Shipping has through a separate wholly-owned subsidiary entered into a time charter contract with Cargill International S.A., Geneva, for one of its Panamax dry bulk vessels, the m/v Melite.

The gross charter rate is USD 7,250 per day minus a 4.75% commission paid to third parties, for a period of minimum eleven months to maximum fourteen months.

The charter for the 2004-built, 76,436 dwt Melite is expected to commence on October 13.

This employment is anticipated to generate approximately USD 2.39 million of gross revenue for the minimum scheduled period of the time charter.

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