Diana Shipping Charters Newbuild Panamax Vessel

Diana Shipping Inc. today announced that, through a separate wholly-owned subsidiary, it took delivery of the newly built m/v “Atalandi”, an Ice Class Panamax dry bulk vessel of 77,529 dwt that was contracted in March 2012.

The company also announced that, through the aforementioned subsidiary, it has entered into a time charter contract with Glencore Grain B.V. for the newly delivered “Atalandi” at a gross charter rate of US$13,500 per day, minus a 5% commission paid to third parties, for a period of minimum eleven months to maximum fourteen months. The charter is expected to commence tomorrow.

In addition, the company also announced that it has agreed to extend the present time charter contract with Rio Tinto Shipping Pty, Ltd. for one of its Panamax dry bulk vessels, the m/v “Melia”. The gross charter rate is US$12,000 per day, minus a 3.75% commission paid to third parties, for a period of minimum eleven months to maximum fourteen months. The charter commenced on May 10, 2014.

The “Melia” is a 76,225 dwt Panamax dry bulk vessel built in 2005.

May 12, 2014

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