Diana Shipping Inc. 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 $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 $26,500 per day, minus a 4.75% commission paid to third parties. The employment of “P. S. Palios” is anticipated to generate approximately USD 20.58 million of gross revenue for the minimum scheduled period of the time charter.