Benzinga | Sep 13, 2021 01:56PM EDT

Diana Shipping Enters Time Charter Contract For M/V Amphitrite

* Diana Shipping Inc (NYSE:DSX) has entered into a time charter contract with BG Shipping Co., Limited, Hong Kong, for one of its Post-Panamax dry bulk vessels, the m/v Amphitrite.

* The gross charter rate is $27 thousand per day, minus a 5% commission paid to third parties, for a period until a minimum of October 15, 2022, up to a maximum of December 15, 2022. The charter commenced today.

* Diana Shipping expects this employment to generate ~$10.58 million of gross revenue for the minimum scheduled time charter period.

* The combined carrying capacity of the company's fleet, excluding the one vessel not yet delivered, is ~4.6 million dwt, with a weighted average age of 10.49 years.

* Price Action: DSX shares are trading higher by 7.25% at $5.92 on the last check Monday.