09:56 AM EDT, 07/05/2024 (MT Newswires) -- Diana Shipping ( DSX ) said Friday that one of its units has extended a time charter contract with Nippon Yusen Kabushiki Kaisha, Tokyo for the dry bulk vessel "Los Angeles."

The gross charter rate is $28,700 per day, minus a 5% commission paid to third parties, for a period beginning July 18 until at least Oct. 1, 2025 and as late as Dec. 15, 2025, the company said.

The "Los Angeles" currently has a gross charter rate of $17,700 per day, minus a 5% commission paid to third parties, the company said.

The company said the extension of the contract is expected to generate $12.4 million of gross revenue for the minimum scheduled period of the time charter.

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