Diana Shipping Announces Direct Continuation Of Time Charter Contract For M/V Astarte

Diana Shipping Inc., (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Glencore Agriculture B.V., Rotterdam, for one of its Kamsarmax dry bulk vessels, the m/v Astarte.

The gross charter rate is US$14,250 per day, minus a 5% commission paid to third parties, for a period of minimum fourteen (14) months to maximum seventeen (17) months.

The new charter period commenced yesterday. The m/v Astarte was chartered, as previously announced, at a gross charter rate of US$9,000 per day, minus a 5% commission paid to third parties. The “Astarte” is an 81,513 dwt Kamsarmax dry bulk vessel built in 2013.

The employment extension of “Astarte” is anticipated to generate approximately US$5.99 million of gross revenue for the minimum scheduled period of the time charter extension.

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 9.15 years. A table describing the current Diana Shipping Inc. fleet can be found on the Company’s website, www.dianashippinginc.com. The information contained on the Company’s website does not constitute a part of this press release.

Reference: dianashippinginc.com

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