Fleet Financing

Diana Shipping Inc.Announces Time Charter Contract for M / V Baltimore with Olam



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ATHENS, Greece, Oct 01, 2021 (GLOBE NEWSWIRE) – Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, announced today that as a wholly owned subsidiary it has entered into a time charter agreement with Olam International Limited, Singapore, for one of its Capesize bulk carriers, the m / v Baltimore. The gross charter rate is $ 56,000 per day, less 4.75% commission paid to third parties, for an on-time charter travel duration of approximately ninety (90) days. The charter began retroactively to September 28, 2021. The m / v Baltimore was chartered, as previously announced, to Koch Shipping Pte. Ltd., Singapore, at a gross charter rate of $ 13,000 per day, less a 5% commission paid to third parties.

The “Baltimore” is a 177,243 dwt Capesize dry bulk vessel built in 2005.

The employment of “Baltimore” is expected to generate approximately $ 5.04 million in gross revenues for the minimum expected period of the on-time charter.

Diana Shipping Inc.’s fleet currently consists of 36 bulk carriers (4 Newcastlemax, 12 Capesize, 5 Post-Panamax, 5 Kamsarmax and 10 Panamax). The Company also plans to take delivery of a Kamsarmax dry bulk vessel by the end of February 2022. To date, the combined carrying capacity of the Company’s fleet, excluding the undelivered vessel, is of about 4.6 million dwt with a weighted average age of 10.54 years. A table describing Diana Shipping Inc.’s current fleet can be found on the Company’s website, www.dianashippinginc.com. The information contained on the Company’s website does not form part of this press release.

About the company

Diana Shipping Inc. is a global provider of shipping services through its ownership of dry bulk vessels. The Company’s vessels are primarily employed on medium and long term charters and carry a range of dry bulk cargoes, including cargo such as iron ore, coal, grain and other materials along the coast. global shipping routes.

Caution regarding forward-looking statements

The matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe havens for forward-looking statements to encourage companies to provide forward-looking information about their activities. Forward-looking statements include statements about future plans, objectives, goals, strategies, events or performance, and underlying assumptions and other statements, which are other than statements of historical fact.

The Company wishes to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and includes this caveat as part of such safe harbor legislation. The words “believe”, “anticipate”, “intend”, “estimate”, “foresee”, “project”, “plan”, “potential”, “can”, “should”, “expect” , “Pending” and similar expressions identify forward-looking statements.

The forward-looking statements contained in this press release are based on various assumptions, many of which, in turn, are based on other assumptions, including, without limitation, the Company’s management review of trends. operating history, data contained in Company records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, as these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond the control of the Company, the Company cannot assure you that it will meet or fulfill these expectations. , beliefs or projections.

In addition to these important factors, other important factors which, in the opinion of the Company, could cause actual results to differ materially from those discussed in forward-looking statements include the severity, extent and duration of the COVID-19 pandemic, including the impacts of the pandemic and the responses of businesses and governments to the pandemic on our operations, personnel and on the demand for the shipping of bulk commodities; strength of global economies and currencies, general market conditions including fluctuations in charter rates and vessel values, changes in demand for dry bulk shipping capacity, changes in expenses of Company operations, including bunker prices, dry dock and insurance costs, the Company’s Vessels market, availability of financing and refinancing, changes in government rules and regulations or actions taken by regulatory authorities, potential liability for ongoing or future litigation, general national and international political conditions, potential disruption of shipping routes due to accidents or political events, vessel breakdowns and cases of non-employment and other factors. Please refer to the documents filed by the Company with the United States Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties. The Company assumes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statement, whether as a result of new information, future events or otherwise.

Corporate Contact:
Ioannis Zafirakis
Director, Chief Financial Officer,
Chief Strategy Officer, Treasurer and Secretary
Telephone: + 30-210-9470-100
Email: [email protected]
Website: www.dianashippinginc.com

Investor and Media Relations:
Edward Nebb
Comm-Counsellors, LLC
Telephone: + 1-203-972-8350
Email: [email protected]

Source: Diana Shipping Inc. c / o Diana Shipping Services SA


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