Corporate Contact:
Ioannis Zafirakis
Director, Executive Vice-President and Secretary
Telephone: + 30-210-947-0100
Email: izafirakis@dianashippinginc.com
Investor and Media Relations:
Edward Nebb
Comm-Counsellors, LLC Telephone: + 1-203-972-8350
Email: enebb@optonline.net
ATHENS, GREECE, January 17, 2012 - Diana Shipping Inc. (NYSE:
DSX), a global shipping company specializing in the ownership
and operation of dry bulk vessels, announced today 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. A
table describing the current Diana Shipping Inc. fleet can be
found on the Company's website, www.dianashippinginc.com.
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.
Cautionary Statement Regarding Forward-Looking Statements
Matters discussed in this press release may constitute
forward-looking statements. The Private Securities Litigation
Reform Act of 1995 provides safe harbor protections for
forward-looking statements in order to encourage companies to
provide prospective information about their business.
Forward-looking statements include statements concerning
plans, objectives, goals, strategies, future events or
performance, and underlying assumptions and other statements,
which are other than statements of historical facts.
The Company desires to take advantage of the safe harbor
provisions of the Private Securities Litigation Reform Act of
1995 and is including this cautionary statement in connection
with this safe harbor legislation. The words
"believe," "anticipate,"
"intends," "estimate,"
"forecast," "project," "plan,"
"potential," "may," "should,"
"expect," "pending" and similar
expressions identify forward-looking statements.
The forward-looking statements in this press release are
based upon various assumptions, many of which are based, in
turn, upon further assumptions, including without limitation,
our management's examination of historical operating
trends, data contained in our records and other data
available from third parties. Although we believe that these
assumptions were reasonable when made, because these
assumptions are inherently subject to significant
uncertainties and contingencies which are difficult or
impossible to predict and are beyond our control, we cannot
assure you that we will achieve or accomplish these
expectations, beliefs or projections.
In addition to these important factors, other important
factors that, in our view, could cause actual results to
differ materially from those discussed in the forward-looking
statements include the strength of world economies and
currencies, general market conditions, including fluctuations
in charter rates and vessel values, changes in demand for dry
bulk shipping capacity, changes in our operating expenses,
including bunker prices, drydocking and insurance costs, the
market for our vessels, availability of financing and
refinancing, changes in governmental rules and regulations or
actions taken by regulatory authorities, potential liability
from pending or future litigation, general domestic and
international political conditions, potential disruption of
shipping routes due to accidents or political events, vessels
breakdowns and instances of off-hires and other factors.
Please see our filings with the Securities and Exchange
Commission for a more complete discussion of these and other
risks and uncertainties.
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Diana Shipping Inc. Announces Delivery of the Panamax Dry Bulk Carrier m/v Leto and Commencement of Time Charter Contract with EDF |