Diana Shipping Announces Time Charter Contract For M/V Melia

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with United Bulk Carriers International S.A., Luxembourg, for one of its Panamax dry bulk vessels, the m/v Melia.

The gross charter rate is US$12,000 per day, minus a 5% commission paid to third parties, for a period of minimum seventeen (17) months to maximum twenty (20) months. The charter is expected to commence on April 20, 2018. The m/v Melia is currently chartered, as previously announced, to Nidera S.P.A., Roma, at a gross charter rate of US$9,500 per day, minus a 5% commission paid to third parties.

The “Melia” is a 76,225 dwt Panamax dry bulk vessel built in 2005.

This employment is anticipated to generate approximately US$6.12 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 50 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 22 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.8 million dwt with a weighted average age of 8.63 years. A table describing the current Diana Shipping Inc.

Press release: dianashippinginc.com

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