How are energy investors positioned?
ATHENS - Diana Shipping Inc. (NYSE:DSX), a shipping company currently trading below its InvestingPro Fair Value with a market capitalization of $178.77 million, announced Monday it has entered into a time charter contract for one of its Kamsarmax dry bulk vessels, the m/v Astarte, with Propel Shipping Pte. Ltd.
The contract specifies a gross charter rate of $12,500 per day, minus a 5% commission paid to third parties. The charter period runs from August 2, 2025, until at least August 16, 2026, with a possible extension to October 16, 2026.
The Astarte, an 81,513 deadweight tonnage vessel built in 2013, is expected to generate approximately $4.68 million in gross revenue for the minimum scheduled period of the charter.
Diana Shipping’s current fleet consists of 36 dry bulk vessels with a combined carrying capacity of approximately 4.1 million deadweight tonnage and a weighted average age of 11.68 years. The company also expects delivery of two methanol dual fuel new-building Kamsarmax vessels by the second half of 2027 and first half of 2028, respectively.
The company specializes in the ownership and bareboat charter-in of dry bulk vessels that transport commodities such as iron ore, coal, and grain along worldwide shipping routes.
This information is based on a press release statement from Diana Shipping Inc.
In other recent news, Diana Shipping Inc. has announced several significant developments. The company has secured a time charter contract for its Newcastlemax dry bulk vessel, the m/v Newport News, with Bohai Ocean Shipping (Singapore) Holding Pte. Ltd., at a daily gross charter rate of $25,000. This represents an increase from the current rate of $20,000 per day, with the contract expected to generate approximately $10.95 million in gross revenue for the minimum scheduled period. Additionally, Diana Shipping has signed an agreement to sell its Panamax vessel Selina for approximately $11.8 million to an unaffiliated third party, with delivery scheduled by August 15, 2025.
Further developments include a new time charter contract with Stone Shipping Ltd. for the Ice Class Panamax dry bulk vessel m/v Atalandi, which will earn a gross charter rate starting at $9,000 per day, increasing to $10,100 per day after the first 35 days. Diana Shipping has also secured a time charter contract with Cargill Ocean Transportation for its Ultramax dry bulk vessel, the m/v DSI Polaris, at a gross charter rate of $12,250 per day. These recent contracts underscore Diana Shipping’s active engagement in optimizing its fleet operations and revenue generation.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.