Diana Shipping renews time charts

Diana Shipping continues time charters with RWE, Uniper, Cargill, Oceanis and Ausca.

Diana Shipping, announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with RWE Supply & Trading GmbH, Essen, Germany, for one of its Kamsarmax dry bulk vessels, the m/v Myrsini. The gross charter rate is US$8,650 per day minus a 5% commission paid to third parties, for a period until minimum August 31, 2018 and maximum December 31, 2018. The new charter period commenced yesterday.

The ÔÇ£MyrsiniÔÇØ is a 82,117 dwt Kamsarmax dry bulk vessel built in 2010.

The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Uniper Global Commodities SE, D├╝sseldorf, for one of its Post-Panamax dry bulk vessels, the m/v Electra. The gross charter rate is US$8,000 per day, minus a 5% commission paid to third parties, for a period of minimum thirteen months to maximum seventeen months. The charter is expected to commence on June 11, 2017.

The ÔÇ£ElectraÔÇØ is a 87,150 dwt Post-Panamax dry bulk vessel built in 2013.

In addition, the Company announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Cargill International S.A., Geneva, for one of its Post-Panamax dry bulk vessels, the m/v Alcmene. The gross charter rate is US$8,000 per day, minus a 4.75% commission paid to third parties, for a period of minimum thirteen months to about sixteen months. The charter commenced yesterday.

The ÔÇ£AlcmeneÔÇØ is a 93,193 dwt Post-Panamax dry bulk vessel built in 2010.

Furthermore, the Company announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Ausca Shipping Limited, Hong Kong, for one of its Panamax dry bulk vessels, the m/v Oceanis. The gross charter rate is US$7,000 per day, minus a 5% commission paid to third parties, for a period of minimum fourteen months to about seventeen months. The charter commenced on May 30, 2017.

The ÔÇ£OceanisÔÇØ is a 75,211 dwt Panamax dry bulk vessel built in 2001.

Finally, the Company announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Ausca Shipping Limited, Hong Kong, for one of its Panamax dry bulk vessels, the m/v Triton. The gross charter rate is US$6,500 per day, minus a 5% commission paid to third parties, for a period of minimum thirteen months to about sixteen months. The charter commenced yesterday.

The ÔÇ£TritonÔÇØ is a 75,336 dwt Panamax dry bulk vessel built in 2001.

The employment extension of ÔÇ£MyrsiniÔÇØ and the employments of ÔÇ£ElectraÔÇØ, ÔÇ£AlcmeneÔÇØ, ÔÇ£OceanisÔÇØ and ÔÇ£TritonÔÇØ are anticipated to generate approximately US$15.61 million of gross revenue for the minimum scheduled period of the time charters.