Diana Shipping Inc. Announces Time Charter Contracts for m/v Santa Barbara With Cargill and m/v Salt Lake City With C Transport

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 Cargill International S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Santa Barbara. The gross charter rate is US$17,250 per day, minus a 4.75% commission paid to third parties, for a period until minimum January 5, 2022 up to maximum March 5, 2022. The charter is expected to commence tomorrow.

The “Santa Barbara” is a 179,426 dwt Capesize dry bulk vessel built in 2015.

The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with C Transport Maritime Ltd., Bermuda, for one of its Capesize dry bulk vessels, the m/v Salt Lake City. The gross charter rate is US$13,000 per day, minus a 5% commission paid to third parties, for a period until minimum April 1, 2022 up to maximum June 30, 2022. The charter is expected to commence tomorrow.

The “Salt Lake City” is a 171,810 dwt Capesize dry bulk vessel built in 2005.

The employments of “Santa Barbara” and “Salt Lake City” are anticipated to generate approximately US$11.89 million of gross revenue for the minimum scheduled period of the time charters.

Upon completion of the previously announced sales of two Panamax dry bulk vessels, the m/v Coronis and the m/v Oceanis, and one Capesize dry bulk vessel, the m/v Sideris GS, Diana Shipping Inc.’s fleet will consist of 37 dry bulk vessels (4 Newcastlemax, 12 Capesize, 5 Post-Panamax, 5 Kamsarmax and 11 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Coronis, the m/v Oceanis and the m/v Sideris GS, is approximately 5.0 million dwt with a weighted average age of 10.26 years.