Diana Extends Charter for Crystalia

Owner and operator of dry bulk vessels Diana Shipping Inc., has, through a separate wholly-owned subsidiary, agreed to extend the present time charter contract with Glencore Grain B.V., Rotterdam, for one of its Ice Class Panamax dry bulk vessels, the m/v Crystalia.

The charter has been extended for a period of minimum ten months to maximum thirteen months.

The gross charter rate is USD 9,000 per day, minus a 5% commission paid to third parties. The new charter period is expected to commence on August 27, 2015.

The Crystalia is a 77, 525 dwt Ice Class Panamax dry bulk vessel built in 2014.

This employment extension is anticipated to generate approximately USD 2.7 million of gross revenue for the minimum scheduled period of the time charter.

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