Diana Shipping Enters Time Charter Contract With Uniper

Diana Shipping Enters Time Charter Contract With Uniper 1

Diana Shipping Inc. (the “Company”), which is a global shipping company specializing in the ownership of dry bulk vessels, announced that it has entered into a contract with Uniper Global Commodities SE, Düsseldorf. It has entered into a time charter contract with Uniper Global Commodities SE through a separate wholly-owned subsidiar, for one of its Panamax dry bulk vessels, the m/v Leto. The gross charter rate is US$13,000 per day, minus a 5% commission paid to third parties, for a period of minimum eleven (11) months to maximum thirteen (13) months. The charter is expected to commence on May 31, 2019. The m/v Leto is currently chartered, as previously announced, to Glencore Agriculture B.V., Rotterdam, at a gross charter rate of US$12,500 per day, minus a 5% commission paid to third parties.

The “Leto” is an 81,297 dwt Panamax dry bulk vessel built in 2010. This employment is anticipated to generate approximately US$4.29 million of gross revenue for the minimum scheduled period of the time charter.

Upon completion of the previously announced sale of one Panamax dry bulk vessel, the m/v Erato, Diana Shipping Inc.’s fleet will consist of 45 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 17 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Erato, is approximately 5.5 million dwt with a weighted average age of 9.30 years.

Reference: dianashippinginc.com

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