Diana Shipping Signs Charter Deal with BG Shipping

Athens-based shipowner Diana Shipping has signed a time charter deal with Hong Kong-based BG Shipping for one of its Post-Panamax dry bulk vessels.

The company’s 93,193 dwt bulker Alcmene was hired at a gross charter rate of USD 11,500 per day for a period of eleven to fourteen months.

Alcmene, built in 2010, started working for BG Shipping on November 21.

Diana Shipping said that the employment would generate around USD 3.8 million of gross revenue for the minimum scheduled period of the time charter.

In a separate statement, the company said it commenced a tender offer to purchase up to 4.16 million shares, or about 3.86%, of its outstanding common stock using funds available from cash and cash equivalents at a price of USD 3.60 per share.