Diana Shipping 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 Classic Maritime Inc., for one of its Capesize dry bulk vessels, the m/v P. S. Palios. The gross charter rate is US$31,000 per day, minus a 5% commission paid to third parties, for a period until minimum April 15, 2024 up to maximum June 30, 2024. The charter is expected to commence on June 11, 2022. The m/v P. S. Palios was chartered, as previously announced, to Olam International Limited, Singapore, at a gross charter rate of US$26,500 per day, minus a 4.75% commission paid to third parties.

The “P. S. Palios” is a 179,134 dwt Capesize dry bulk vessel built in 2013.

The employment of “P. S. Palios” is anticipated to generate approximately US$20.58 million of gross revenue for the minimum scheduled period of the time charter.