Diana Shipping Inc. Announces Time Charter Contract for m/v Seattle With Pacbulk

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Pacbulk Shipping Pte. Ltd., Singapore, for one of its Capesize dry bulk vessels, the m/v Seattle. The gross charter rate is US$12,300 per day, minus a 5% commission paid to third parties, for a period until minimum October 1, 2021 up to maximum December 31, 2021. The charter commenced on April 27, 2020.

The “Seattle” is a 179,362 dwt Capesize dry bulk vessel built in 2011.

This employment is anticipated to generate approximately US$6.32 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 41 dry bulk vessels (4 Newcastlemax, 13 Capesize, 5 Post-Panamax, 5 Kamsarmax and 14 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.1 million dwt with a weighted average age of 9.63 years.