Diana Shipping Incorporated - symbol DSX - reported that it has entered into a time charter contract with Hyundai Merchant Marine Company Limited, for one of its Panamax dry bulk carriers for a [...]

Diana Shipping Incorporated - symbol DSX - reported that it has entered into a time charter contract with Hyundai Merchant Marine Company Limited, for one of its Panamax dry bulk carriers for a minimum thirteen (13) to about sixteen (16) month period. According to Diana Shipping, this employment is expected to generate approximately US$4.76 million of gross revenues for the minimum scheduled period of the charter. The company’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. Diana Shipping Incorporated 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.