Diana Shipping Inc. Announces Time Charter Contract
Diana Shipping Inc. (NYSE: DSX) today announced that it has entered into a time charter contract with Cargill International S.A., Geneva, for its Post-Panamax dry bulk carrier, the m/v Alcmene, at a gross charter rate of US$20,250 per day for a period of about twenty three to about twenty five months. The charter is expected to commence by the end of November 2010.
As previously announced on October 1, 2010, the above mentioned vessel is the former m/v East Sunrise 88, to be renamed "Alcmene," a 2010 built Post-Panamax dry bulk carrier of 93,193 dwt, which is expected to be delivered to the Company by the seller during the end of November 2010.
This employment is anticipated to generate approximately US$14 million of gross revenue for the minimum scheduled period of the charter.
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