DSX, Diana Shipping Inc.
** DSX reported that it has entered into a time charter contract with Hyundai Merchant Marine Co. Ltd, Seoul, South Korea, for one of its Panamax dry bulk carriers, the m/v Erato, at a gross rate of US$12,200 per day, minus a 5% commission paid to third parties for a minimum thirteen (13) to about sixteen (16) month period.
The charter is expected to commence early December 2011.
This employment is expected to generate approximately US$4.76 million of gross revenues for the minimum scheduled period of the charter.
** On Oct. 3, 2011, DSX reported that it entered into a time charter contract with Louis Dreyfus Commodities S.A., Geneva, for one of its Panamax dry bulk carriers, the m/v Calipso, at a gross rate of US$12,250 per day, minus a 5% commission paid to third parties for a minimum twenty-two (22) to a maximum twenty-six (26) month period. This employment is expected to generate approximately US$8.1 million of gross revenues for the minimum scheduled period of the charter.
** DSX's financial results for its third quarter fiscal 2011 are scheduled to be released before the opening of the U.S. financial markets on Wednesday, November 23, 2011.
DSX is a leading global provider of shipping transportation services through the ownership and operation of dry bulk vessels. DSX'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.
More about DSX at www.dianashippinginc.com
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