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Diana announces Koch time charter contract

(Posted on 19/12/18)

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Koch Shipping Pte. Ltd., Singapore, for one of its Panamax dry bulk vessels, the m/v Ismene. The gross charter rate is US$12,125 per day, minus a 5% commission paid to third parties, for a period until minimum January 1, 2020 up to maximum March 31, 2020. The charter is expected to commence on December 12, 2018.

The “Ismene” is a 77,901 dwt Panamax dry bulk vessel built in 2013. This employment is anticipated to generate approximately US$4.6 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping fleet currently consists of 48 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 20 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.7 million dwt with a weighted average age of 9.08 years. A table describing the current Diana Shipping Inc. fleet can be found on the Company’s website, www.dianashippinginc.com. Information contained on the Company’s website does not constitute a part of this press release.

Diana Shipping’s vessels are employed primarily on medium to long-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.

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