Diana Shipping Inc. (NYSE: DSX), a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Nidera S.P.A., Roma, for one of its Panamax dry bulk vessels, the m/v Melia, for a period of about eleven (11) months to about thirteen (13) months.

Diana Shipping Inc. Announces Direct Continuation of Time Charter Contract for mv Melia with Nidera

Bulk carrier Melia - Image courtesy of J.D. Berman

The gross charter rate is US$9,500 per day, minus a 5% commission paid to third parties. The new charter period is expected to commence on March 18, 2017.

The Melia is a 76,225 dwt Panamax dry bulk vessel built in 2005.

The employment extension of Melia is anticipated to generate approximately US$2.99 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 48 dry bulk vessels (4 Newcastlemax, 14 Capesize, 3 Post-Panamax, 4 Kamsarmax and 23 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.7 million dwt with a weighted average age of 7.79 years.

Source: Diana Shipping