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Diana Shipping Inc. Announces Delivery of the Panamax Dry Bulk Carrier M/V Leto and Commencement of Time Charter

Wednesday, 18 January 2012 | 00:00
Diana Shipping Inc., a global shipping company specializing in the ownership and operation of dry bulk vessels, announced yesterday that the Company yesterday took delivery of the m/v "Leto", (formerly "Vathy"), a 81,297 dwt Panamax dry bulk carrier built in 2010.
As previously announced, the Leto is chartered to EDF Trading Ltd., London, at a gross charter rate of US$12,900 per day, minus a 5% commission paid to third parties, for a period of minimum twenty-four (24) months to maximum thirty-four (34) months. The charter commenced today.
This employment is anticipated to generate approximately US$9.3 million of gross revenue for the minimum scheduled period of the charter.
Including the newly-delivered Leto, the Diana Shipping Inc. fleet currently consists of 25 dry bulk carriers (16 Panamax, 1 Post-Panamax and 8 Capesize) with a weighted average age of 6.2 years. The Company also previously announced two Newcastlemax new-building dry bulk carriers that are expected to be delivered during the first half of 2012.
Diana Shipping Inc. is a leading global provider of shipping transportation services through the ownership and operation of dry bulk vessels. The Company's vessels are employed primarily on medium to long-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.
Source: Diana Shipping Inc.
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