Diana Shipping Inc. Announces Time Charter Contract for m/v Alcmene with Cargill

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Cargill International S.A., Geneva, for one of its Post-Panamax dry bulk vessels, the m/v Alcmene, for a period of about thirteen (13) months to maximum fifteen (15) months. The gross charter rate is US$4,000 per day for the first sixty (60) days of the charter period and US$8,500 per day for the balance period of the time charter, in each case minus a 4.75% commission paid to third parties. The charter commenced earlier today.

The “Alcmene” is a 93,193 dwt Post-Panamax dry bulk vessel built in 2010.

This employment is anticipated to generate approximately US$2.92 million of gross revenue for the minimum scheduled period of the time charter.