Diana Shipping announces direct continuation of time charter contract

Diana Shipping (DSX) announced that, through a separate wholly-owned subsidiary, it has extended the time charter contract with Solebay Shipping Cape Company Limited, Hong Kong, for one of its Capesize dry bulk vessels, the m/v Semirio. The gross charter rate is $16,650 minus a 5% commission paid to third parties, for a period until minimum February 15, 2026 up to maximum April 15, 2026. The new charter period is expected to commence on February 4, 2025. The m/v Semirio is currently chartered, as previously announced, at a gross charter rate of $14,150 per day, minus a 5.00% commission paid to third parties. The “Semirio” is a 174,261 dwt Capesize dry bulk vessel built in 2007. The Company also announced that, through a separate wholly-owned subsidiary, it has extended the time charter contract with Western Bulk Carriers AS, for one of its Ultramax dry bulk vessels, the m/v DSI Aquila. The gross charter rate is $12,250 per day, minus a 5% commission paid to third parties, for a period of minimum five months to about seven months. The new charter period is expected to commence on January 23, 2025. The m/v DSI Aquila is currently chartered, as previously announced, at a gross charter rate of $12,500 per day, minus a 5.00% commission paid to third parties. The “DSI Aquila” is a 60,309 dwt Ultramax dry bulk vessel built in 2015. The employment extensions of “Semirio” and “DSI Aquila” are anticipated to generate a total of approximately $7.52 million of gross revenue for the minimum scheduled period of the time charters.