Diana Shipping Inc.
DSX, a global shipping company specializing in the ownership and
operation of dry bulk vessels, today announced that it has entered into a time
charter contract with Cargill International S.A., Geneva, through a separate
wholly-owned subsidiary, for one of its Panamax dry bulk carriers, the m/v
Erato. The gross charter rate is US$6,500 per day, minus a 5% commission paid
to third parties, for a period of minimum eighteen (18) months to maximum
twenty-four (24) months. The charter is expected to commence at the middle of
January 2013.
This employment is anticipated to generate approximately US$3.5 million of
gross revenue for the minimum scheduled period of the charter.
The Erato is a 74,444 dwt Panamax dry bulk vessel built in 2004.
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