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Friday, April 03, 2009

Diana Shipping Inc. Announces Long Term Time Charter Contract for m/v Danae

Friday, 03 April 2009

Diana Shipping Inc., a global shipping company specializing in the transportation of dry bulk cargoes, yesterday announced that it has entered into a time charter contract with Augustea Atlantica Srl, Naples, Italy, or their fully guaranteed nominee, for one of its Panamax dry bulk carriers, the m/v Danae, at a gross daily charter rate of US$12,000 for a period of about twenty-two (22) to about twenty-four (24) months. The charter is expected to commence on or about April 6, 2009 and will further increase the Company's employment cover through 2010 and into early 2011. This employment is expected to generate approximately US$8 million of gross revenues for the minimum scheduled period of the charter.
The m/v Danae is a 75,106 dwt Panamax dry bulk carrier built in 2001.
Diana Shipping Inc. is a global provider of shipping transportation services. The Company specializes in transporting dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.
Source: Diana Shipping Inc.