Diana Shipping Gains 20%, Company Announces New $6,300 Per Day Charter Contract

Shares of Diana Shipping Inc. DSX surged higher by nearly 20 percent on Friday after the company announced a contract win.

Diana Shipping said that one of its wholly-owned subsidiary entered into a time charger contract with Quadra Commodities for the use of a Kamsarmax dry bulk vessel. The contract has a charter rate of $6,300 per day, less a 5 percent commission paid out to a third party.

The contract is dated from March 15, 2017, to July 30, 2017.

Dianna Shipping added that the contract is expected to generate $2.15 million of gross revenue.