Diana Shipping Inc. Announces Time Charter Contract for m/v Boston With Aquavita
July 18 2022 - 9:09AM
Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping
company specializing in the ownership and bareboat charter-in of
dry bulk vessels, today announced that, through a separate
wholly-owned subsidiary, it has entered into a time charter
contract with Aquavita International S.A., for one of its Capesize
dry bulk vessels, the m/v Boston. The gross charter rate is
US$20,500 per day, minus a 5% commission paid to third parties, for
a period until minimum April 1, 2023 up to maximum May 31, 2023.
The charter commenced on July 15, 2022. The m/v Boston was
previously chartered to Richland Bulk Pte. Ltd., at a gross charter
rate of US$13,000 per day, minus a 5% commission paid to third
parties.
The “Boston” is a 177,828 dwt Capesize dry bulk
vessel built in 2007.
The employment of “Boston” is anticipated to
generate approximately US$5.25 million of gross revenue for the
minimum scheduled period of the time charter.
Upon completion of the previously announced sale
of one Capesize dry bulk vessel, the m/v Baltimore, Diana Shipping
Inc.’s owned and bareboat chartered-in fleet will consist of 34 dry
bulk vessels (4 Newcastlemax, 11 Capesize, 5 Post-Panamax, 6
Kamsarmax and 8 Panamax). As of today, the combined carrying
capacity of our fleet, including the m/v Baltimore, is
approximately 4.5 million dwt with a weighted average age of 10.47
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 and bareboat
charter-in of dry bulk vessels. The Company’s vessels are employed
primarily on short to medium-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 severity, magnitude and
duration of the COVID-19 pandemic, including impacts of the
pandemic and of businesses’ and governments’ responses to the
pandemic on our operations, personnel, and on the demand for
seaborne transportation of bulk products; 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, including risks associated with the
continuing conflict between Russia and Ukraine and related
sanctions, 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 Zafirakis
Director, Chief Financial Officer,
Chief Strategy Officer, Treasurer and Secretary
Telephone: + 30-210-9470-100
Email: izafirakis@dianashippinginc.com
Website: www.dianashippinginc.com
Twitter: @Dianaship
Investor and Media Relations:
Edward Nebb
Comm-Counsellors, LLC
Telephone: + 1-203-972-8350
Email: enebb@optonline.net
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