Greece: Diana Shipping Takes Delivery of Dry Bulk Carrier Leto

January 18, 2012

Diana Shipping Inc., announced that the Company has taken delivery of the m/v “Leto”, (formerly “Vathy”), a 81,297 dwt Panamax dry bulk carrier built in 2010.

As previously announced, the Leto is chartered to EDF Trading Ltd., London, at a gross charter rate of US$12,900 per day, minus a 5% commission paid to third parties, for a period of minimum twenty-four (24) months to maximum thirty-four (34) months. The charter commenced today.

This employment is anticipated to generate approximately US$9.3 million of gross revenue for the minimum scheduled period of the charter.

Including the newly-delivered Leto, the Diana Shipping Inc. fleet currently consists of 25 dry bulk carriers (16 Panamax, 1 Post-Panamax and 8 Capesize) with a weighted average age of 6.2 years. The Company also previously announced two Newcastlemax new-building dry bulk carriers that are expected to be delivered during the first half of 2012.

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World Maritime News Staff, January 18, 2012; Image: Diana Shipping