Benzinga | Aug 26, 2021 04:16PM EDT

Diana Shipping Enters Time Charter Contract For M/V Selina

* Diana Shipping Inc (NYSE:DSX) 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 $26,500 per day for a period until minimum June 15, 2022, up to maximum September 15, 2022.

* The charter is expected to commence on September 1, 2021. This employment is anticipated to generate ~$7.53 million of gross revenue for the minimum scheduled period.

* The m/v Selina is currently chartered to ST Shipping and Transport Pte. Ltd., Singapore, at a gross charter rate of $11,000 per day.

* Diana Shipping's fleet currently consists of 36 dry bulk vessels, and the combined carrying capacity is ~4.6 million dwt with a weighted average age of 10.44 years.

* Price Action: DSX shares closed higher by 1.05% at $4.81 on Thursday.