Diana Charters Bulk Carier to RWE

Diana Shipping Inc., through a separate wholly-owned subsidiary, has entered into a time charter contract with RWE Supply & Trading GmbH, Essen, Germany, for one of its Capesize dry bulk vessels, the m/v Houston. The gross charter rate is $12,750 per day minus a 5% commission paid to third parties, for a period of minimum 12 months to maximum 15 months. The charter is expected to commence on January 5, 2015.

 

The Houston is a 177,729 dwt Capesize dry bulk vessel built in 2009.

 

This employment is anticipated to generate approximately $4.59 million of gross revenue for the minimum scheduled period of the time charter.

 

Diana Shipping Inc.'s fleet currently consists of 39 dry bulk vessels (two Newcastlemax, 11 Capesize, three Post-Panamax, three Kamsarmax and 20 Panamax). The company also expects to take delivery of one new-building Capesize dry bulk vessel by mid-January 2015 as well as two newbuilding Newcastlemax dry bulk vessels and one newbuilding Kamsarmax dry bulk vessel during the second quarter of 2016. As of today, the combined carrying capacity of our fleet, excluding the four vessels not yet delivered, is approximately 4.4 million dwt with a weighted average age of 7.06 years.