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Diana Shipping Inc. Announces Time Charter Contracts w / v Nirefs and M / V Erato

Shipping News | January 9, 2010 | View Comments
  • 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 Louis Dreyfus Commodities Suisse S.A., for one of its Panamax dry bulk carriers, the m/v Nirefs, at a gross
    charter rate of US$21,000 per day for a period of about twenty-three
    (23) to about twenty-five (25) months. The charter is expected to
    commence in the middle of February 2010.

    The Company also announced today that it has entered into a time
    charter contract with C Transport Panamax Ltd., Isle of Man, for one of
    its Panamax dry bulk carriers, the m/v Erato, at a gross charter rate
    of US$20,500 per day for a period of minimum twenty-one (21) to maximum
    twenty-four (24) months. The charter is expected to commence in the
    middle of March 2010.

    These employments are anticipated to generate approximately US$27.5
    million of gross revenue for the minimum scheduled period of the
    charters.

    The m/v Nirefs is a 75,311 dwt Panamax dry bulk carrier built in 2001
    and the m/v Erato is a 74,444 dwt Panamax dry bulk carrier built in
    2004.

    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.

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