23MAY2018 - NEWS - Diana Shipping Inc. announced time charter contract for m/v P. S. Palios with Koch yesterday

Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, yesterday announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Koch Shipping Pte. Ltd., Singapore, for one of its Capesize dry bulk vessels, the m/v P. S. Palios. The gross charter rate is US$17,350 per day, minus a 5% commission paid to third parties, for a period of about thirteen (13) months to maximum fifteen (15) months. The charter is expected to commence on May 24, 2018. The m/v P. S. Palios is currently chartered, as previously announced, at a gross charter rate of US$10,550 per day, minus a 5% commission paid to third parties.

The “P. S. Palios” is a 179,134 dwt Capesize dry bulk vessel built in 2013.

This employment is anticipated to generate approximately US$6.51 million of gross revenue for the minimum scheduled period of the time charter.