Diana Shipping Inc. Announces Time Charter Contract for m/v Selina with ST Shipping

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 ST Shipping and Transport Pte. Ltd., Singapore, for one of its Panamax dry bulk vessels, the m/v Selina. The gross charter rate is US$11,000 per day, minus a 5% commission paid to third parties, for a period of minimum twelve (12) months to maximum fourteen (14) months. The charter commenced on July 5, 2020. The m/v Selina was previously chartered to Cargill International S.A., Geneva, at a gross charter rate of US$4,750 per day, minus a 4.75% commission paid to third parties.

The “Selina” is a 75,700 dwt Panamax dry bulk vessel built in 2010.

This employment is anticipated to generate approximately US$3.96 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 Arethusa, Diana Shipping Inc.’s fleet will consist of 40 dry bulk vessels (4 Newcastlemax, 13 Capesize, 5 Post-Panamax, 5 Kamsarmax and 13 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Arethusa, is approximately 5.1 million dwt with a weighted average age of 9.81 years.