Diana Shipping Inc. Announces Delivery of M/V Myrto

Diana Shipping Inc. (NYSE:DSX), through a separate wholly-owned subsidiary, took delivery of the M/V Myrto, a 82,131 dwt newly built Kamsarmax dry bulk carrier that the company entered into an agreement to purchase in December 2012.

 

The M/V Myrto is time chartered to Cargill International S.A., Geneva, at a gross charter rate of $9,000 per day, minus a 5% commission paid to third parties, for a period of  minimum 18 months to maximum 24 months.

 

This employment is anticipated to generate approximately $4.86m of gross revenue for the minimum scheduled period of the charter.

 

Including the newly-delivered M/V Myrto, Diana Shipping Inc.'s fleet  currently consists of 31 dry bulk carriers (17 Panamax, 1 Kamsarmax, 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 the Company's current fleet, excluding the two vessels not yet delivered, is 3.5 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.