03JUL2018 - NEWS - Diana Shipping Inc. announces direct continuation of time charter contract for m/v Polymnia with Cargill

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, yesterday announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Cargill International S.A., Geneva, for one of its Post-Panamax dry bulk vessels, the m/v Polymnia. The gross charter rate is US$16,000 per day, minus a 4.75% commission paid to third parties, for a period of minimum fourteen (14) months to maximum seventeen (17) months. The new charter period is expected to commence on July 8, 2018. The m/v Polymnia is currently chartered, as previously announced, at a gross charter rate of US$10,100 per day, minus a 4.75% commission paid to third parties.
The “Polymnia” is a 98,704 dwt Post-Panamax dry bulk vessel built in 2012.
The employment extension of “Polymnia” is anticipated to generate approximately US$6.72 million of gross revenue for the minimum scheduled period of the time charter extension.