Diana Shipping Inc. 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 Panamax dry bulk carriers, the m/v “Arethusa”, at a gross charter rate of US$7,300 per day, minus a 5% commission paid to third parties, for a period of minimum eighteen (18) months to maximum twenty-four (24) months.
The charter is expected to commence on November 23, 2012. This employment is anticipated to generate approximately US$3.9 million of gross revenue for the minimum scheduled period of the charter.
The Arethusa is a 73,593 dwt Panamax dry bulk vessel built in 2007.
Including the newly-delivered m/v Polymnia, Diana Shipping Inc.’s fleet currently consists of 30 dry bulk carriers (17 Panamax, 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 our current fleet, excluding the two vessels not yet delivered, is approximately 3.4 million dwt with a weighted average age of 5.9 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.