Diana Shipping Inc. Announces Time Charter Contract for m/v Thetis With Hudson
November 15 2018 - 09:11AM
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 Hudson Shipping Lines
Incorporated for one of its Panamax dry bulk vessels, the m/v
Thetis. The gross charter rate is US$10,650 per day, minus a 3.75%
commission paid to third parties, for a period of minimum fourteen
(14) months to maximum seventeen (17) months. The charter is
expected to commence tomorrow. The m/v Thetis was chartered, as
previously announced, to Ausca Shipping Limited, Hong Kong, at a
gross charter rate of US$8,350 per day, minus a 5% commission paid
to third parties.
The “Thetis” is a 73,583 dwt Panamax dry bulk
vessel built in 2004.
This employment is anticipated to generate
approximately US$4.47 million of gross revenue for the minimum
scheduled period of the time charter.
Upon completion of the previously announced
sales of two Panamax dry bulk vessels, m/v Triton and m/v Alcyon,
Diana Shipping Inc.’s fleet will consist of 48 dry bulk vessels (4
Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 20
Panamax). As of today, the combined carrying capacity of the
Company’s fleet, including m/v Triton and m/v Alcyon, is
approximately 5.8 million dwt with a weighted average age of 9.23
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, Company management’s examination of historical
operating trends, data contained in the Company’s records and other
data available from third parties. Although the Company believes
that these assumptions were reasonable when made, because these
assumptions are inherently subject to significant uncertainties and
contingencies that are difficult or impossible to predict and are
beyond the Company’s control, the Company cannot assure you that it
will achieve or accomplish these expectations, beliefs or
projections.
In addition to these important factors, other
important factors that, in the Company’s 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 the Company’s operating expenses,
including bunker prices, drydocking and insurance costs, the market
for the Company’s 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 the Company’s filings
with the U.S. Securities and Exchange Commission for a more
complete discussion of these and other risks and uncertainties. The
Company undertakes no obligation to revise or update any
forward-looking statement, or to make any other forward-looking
statements, whether as a result of new information, future events
or otherwise.
Corporate Contact:Ioannis ZafirakisDirector,
Chief Strategy Officer and SecretaryTelephone: +
30-210-9470-100Email: izafirakis@dianashippinginc.com Website:
www.dianashippinginc.com
Investor and Media Relations:Edward
NebbComm-Counsellors, LLCTelephone: + 1-203-972-8350Email:
enebb@optonline.net
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