Benzinga | Aug 26, 2021 09:22AM EDT

Diana Shipping Inc. Announces Time Charter Contract For M/V Selina With ASL; Gross Charter Rate $26,500/Day

Diana Shipping Inc. (NYSE:DSX), (the "Company"), a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with ASL Bulk Shipping HK Limited, for one of its Panamax dry bulk vessels, the m/v Selina. The gross charter rate is US$26,500 per day, minus a 5% commission paid to third parties, for a period until minimum June 15, 2022 up to maximum September 15, 2022. The charter is expected to commence on September 1, 2021. The m/v Selina is currently chartered, as previously announced, to ST Shipping and Transport Pte. Ltd., Singapore, at a gross charter rate of US$11,000 per day, minus a 5% commission paid to third parties.

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

The employment of "Selina" is anticipated to generate approximately US$7.53 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.'s fleet currently consists of 36 dry bulk vessels (4 Newcastlemax, 12 Capesize, 5 Post-Panamax, 5 Kamsarmax and 10 Panamax). The Company also expects to take delivery of one Kamsarmax dry bulk vessel by the end of February 2022. As of today, the combined carrying capacity of the Company's fleet, excluding the one vessel not yet delivered, is approximately 4.6 million dwt with a weighted average age of 10.44 years. A table describing the current Diana Shipping Inc. fleet can be found on the Company's website, www.dianashippinginc.com. Information contained on the Company's website does not constitute a part of this press release.