Diana Shipping announced that, through a separate wholly owned subsidiary, it entered into a time charter contract with Cargill International S.A., Geneva, for one of its Panamax dry bulk vessels, the m/v Leto. The gross charter rate is $11,350 per day, minus a 4.75% commission paid to third parties, for a period of minimum eleven months to maximum fourteen months. The charter is expected to commence on July 18. The "Leto" is a 81,297 dwt Panamax dry bulk vessel built in 2010. This employment is anticipated to generate approximately $3.7M of gross revenue for the minimum scheduled period of the time charter.
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