Diana Shipping has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Phaethon International Company AG, for one of its Panamax dry bulk vessels, the m/v Clio. The gross charter rate is US$8,550 per day, minus a 5% commission paid to third parties, for a period of minimum 13 months to maximum 16 months. The charter is expected to commence on July 3, 2017. The “Clio” is a 73,691 dwt Panamax dry bulk vessel built in 2005. This employment is anticipated to generate approximately US$3.