Diana Shipping Extends Time Charter Contract for M/v Houston

Photo:  Diana Shipping Inc.

Diana Shipping has announced that, through a
separate wholly-owned subsidiary, it has agreed to extend the
present time charter contract with SwissMarine Services, Geneva,
for one of its Capesize dry bulk vessels, the m/v Houston, for a
period of about thirteen (13) months to maximum fifteen (15)
months.

The gross charter rate is US$5,150 per day for the first fifteen
(15) days of the charter period and US$10,000 per day for the
balance period of the time charter, in each case minus a 5%
commission paid to third parties.

The new charter period is expected to commence today (February
17). The "Houston" is a 177,729 dwt Capesize dry bulk vessel
built in 2009.

The employment extension of "Houston" is anticipated to generate
approximately US$3.68 million of gross revenue for the minimum
scheduled period of the time charter.

Diana Shipping Inc.'s fleet currently consists of 48 dry bulk
vessels (4 Newcastlemax, 14 Capesize, 3 Post-Panamax, 4 Kamsarmax
and 23 Panamax). As of today, the combined carrying capacity of
the Company's fleet is approximately 5.7 million dwt with a
weighted average age of 7.71 years.

Feb 16, 2017

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