Diana Shipping Inc. Announces Time Charter Contract for m/v Los Angeles With SwissMarine
April 04 2018 - 8:33AM
Diana Shipping Inc. (NYSE:DSX), (the “Company”), a global shipping
company specializing in the ownership of dry bulk vessels, today
announced that, through a separate wholly-owned subsidiary, it has
entered into a time charter contract with SwissMarine Services
S.A., Geneva, for one of its Newcastlemax dry bulk vessels, the m/v
Los Angeles. The gross charter rate is US$19,150 per day, minus a
5% commission paid to third parties, for a period of about nine (9)
months to maximum twelve (12) months. The charter is expected to
commence on April 17, 2018.
The “Los Angeles” is a 206,104 dwt Newcastlemax dry
bulk vessel built in 2012.
This employment is anticipated to generate
approximately US$4.88 million of gross revenue for the minimum
scheduled period of the time charter.
Diana Shipping Inc.’s fleet currently consists of
50 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5
Kamsarmax and 22 Panamax). As of today, the combined carrying
capacity of the Company’s fleet is approximately 5.8 million dwt
with a weighted average age of 8.61 years. A table describing the
current Diana Shipping Inc. fleet can be found on the Company’s
website, www.dianashippinginc.com. Information contained on the
Company’s website does not constitute a part of this press
release.
About the Company
Diana Shipping Inc. is a global provider of
shipping transportation services through its ownership of dry bulk
vessels. The Company’s vessels are employed primarily on medium to
long-term time charters and transport a range of dry bulk cargoes,
including such commodities as iron ore, coal, grain and other
materials along worldwide shipping routes.
Cautionary Statement Regarding
Forward-Looking Statements
Matters discussed in this press release may
constitute forward-looking statements. The Private Securities
Litigation Reform Act of 1995 provides safe harbor protections for
forward-looking statements in order to encourage companies to
provide prospective information about their business.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements, which are other than
statements of historical facts.
The Company desires to take advantage of the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995 and is including this cautionary statement in connection
with this safe harbor legislation. The words “believe,”
“anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,”
“potential,” “may,” “should,” “expect,” “pending” and similar
expressions identify forward-looking statements.
The forward-looking statements in this press
release are based upon various assumptions, many of which are
based, in turn, upon further assumptions, including without
limitation, our management’s examination of historical operating
trends, data contained in our records and other data available from
third parties. Although we believe that these assumptions were
reasonable when made, because these assumptions are inherently
subject to significant uncertainties and contingencies which are
difficult or impossible to predict and are beyond our control, we
cannot assure you that we will achieve or accomplish these
expectations, beliefs or projections.
In addition to these important factors, other
important factors that, in our view, could cause actual results to
differ materially from those discussed in the forward-looking
statements include the strength of world economies and currencies,
general market conditions, including fluctuations in charter rates
and vessel values, changes in demand for dry bulk shipping
capacity, changes in our operating expenses, including bunker
prices, drydocking and insurance costs, the market for our vessels,
availability of financing and refinancing, changes in governmental
rules and regulations or actions taken by regulatory authorities,
potential liability from pending or future litigation, general
domestic and international political conditions, potential
disruption of shipping routes due to accidents or political events,
vessel breakdowns and instances of off-hires and other factors.
Please see our filings with the Securities and Exchange Commission
for a more complete discussion of these and other risks and
uncertainties.
Corporate Contact:
Ioannis Zafirakis
Director, Chief Operating Officer and Secretary
Telephone: + 30-210-9470-100
Email: izafirakis@dianashippinginc.com
Website: www.dianashippinginc.com
Investor and Media Relations:
Edward Nebb
Comm-Counsellors, LLC
Telephone: + 1-203-972-8350
Email: enebb@optonline.net
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