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 took delivery of the m/v "P. S. Palios" (formerly "JK Pioneer"), a 2013 built Capesize dry bulk vessel of 179,134 dwt that the Company entered into an agreement to purchase in October 2013.
As previously announced, the m/v "P. S. Palios" is time chartered to RWE Supply & Trading GmbH, Essen, Germany, at a gross charter rate of US$18,350 per day, minus a 5% commission paid to third parties, for a period of about twenty-two (22) months to maximum December 31, 2015. The charter is expected to commence tomorrow.
This employment is anticipated to generate approximately US$11.8 million of gross revenue for the minimum scheduled period of the charter.
Including the newly delivered "P. S. Palios", Diana Shipping Inc.'s fleet currently consists of 36 dry bulk vessels (2 Newcastlemax, 10 Capesize, 3 Post-Panamax, 3 Kamsarmax and 18 Panamax). The Company also expects to take delivery of 2 new-building Ice Class Panamax dry bulk vessels during the first quarter of 2014, and 2 new-building Newcastlemax dry bulk vessels during the second quarter of 2016. As of today, the combined carrying capacity of our fleet, excluding the four vessels not yet delivered, is approximately 4.1 million dwt with a weighted average age of 6.51 years.
