Greece: Diana Shipping Announces Charter Contract for MV Semirio

Diana Shipping Announces Charter Contract for MV Semirio

Diana Shipping Inc., a global shipping company specializing in the ownership and operation of dry bulk vessels, today announced that it has entered into a time charter contract with Cargill International S.A., Geneva, through a separate wholly-owned subsidiary, for one of its Capesize dry bulk carriers, the m/v Semirio.

The gross charter rate is US$14,000 per day, minus a 4.75% commission paid to third parties, for a period of minimum twenty-two (22) months to maximum twenty-seven (27) months. The charter is expected to commence on March 21, 2013.

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

This employment is anticipated to generate approximately US$9.24 million of gross revenue for the minimum scheduled period of the charter.

Diana Shipping Inc.’s fleet currently consists of 32 dry bulk carriers (17 Panamax, 2 Kamsarmax, 3 Post-Panamax, 8 Capesize and 2 Newcastlemax), as well as 2 new-building Ice Class Panamax vessels expected to be delivered to the Company during the fourth quarter of 2013. As of today, the combined carrying capacity of Diana Shipping’s current fleet, excluding the two vessels not yet delivered, is approximately 3.5 million dwt with a weighted average age of 6.0 years.

[mappress]

Diana Shipping, March 11, 2013

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