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 Viterra Chartering B.V., Rotterdam, for one of its Panamax dry bulk vessels, the m/v Melia. The gross charter rate is US$25,750 per day, minus a 5% commission paid to third parties, for a period until minimum April 7, 2022 up to maximum June 7, 2022. The charter commenced retroactively on June 11, 2021. The m/v Melia was chartered, as previously announced, to Ausca Shipping Limited, Hong Kong, at a gross charter rate of US$10,000 per day, plus US$500,000 gross ballast bonus, minus a 5% commission paid to third parties.

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

The employment of “Melia” is anticipated to generate approximately US$7.65 million of gross revenue for the minimum scheduled period of the time charter.

Upon completion of the previously announced sale of one Panamax dry bulk vessel, the m/v Naias, Diana Shipping Inc.’s fleet will consist of 36 dry bulk vessels (4 Newcastlemax, 12 Capesize, 5 Post-Panamax, 5 Kamsarmax and 10 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Naias, is approximately 4.7 million dwt with a weighted average age of 10.35 years.