Diana Shipping Inc. Announces Time Charter Contract for m/v Los Angeles with Engelhart CTP

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 Engelhart CTP Freight (Switzerland) SA, for one of its Newcastlemax dry bulk vessels, the m/v Los Angeles. The gross charter rate is US$14,250 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 June 6, 2020. The m/v Los Angeles was chartered, as previously announced, to SwissMarine Services S.A., Geneva, at a gross charter rate of US$13,250 per day, minus a 5% commission paid to third parties.

The “Los Angeles” is a 206,104 dwt Newcastlemax dry bulk vessel built in 2012.

This employment is anticipated to generate approximately US$6.77 million of gross revenue for the minimum scheduled period of the time charter.