Diana Shipping, a global shipping company specializing in the ownership of dry bulk vessels, announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Reachy International (HK) Co., Limited, for one of its Panamax dry bulk vessels, the m/v Protefs. The gross charter rate is US$10,650 per day, minus a 5% commission paid to third parties, for a period until minimum March 10, 2022 up to maximum May 20, 2022. The charter commenced yesterday. The m/v Protefs was chartered, as previously announced, to Phaethon International Company AG, at a gross charter rate of US$9,900 per day, minus a 5% commission paid to third parties.

The “Protefs” is a 73,630 dwt Panamax dry bulk vessel built in 2004.

The employment of “Protefs” is anticipated to generate approximately US$4.17 million of gross revenue for the minimum scheduled period of the time charter.