Diana Shipping secures time charter contract for Post-Panamax vessel

ATHENS - Diana Shipping Inc. (NYSE:DSX) announced Wednesday it has entered into a time charter contract with Oldendorff Carriers GmbH & Co. KG for its Post-Panamax dry bulk vessel, the m/v Polymnia.

The contract specifies a gross charter rate of $14,000 per day, minus a 5% commission paid to third parties, for a period lasting from August 17, 2025, until at least April 10, 2026, with a possible extension to June 10, 2026.

The Polymnia, a 98,704 deadweight tonnage vessel built in 2012, is expected to generate approximately $3.28 million in gross revenue for the minimum scheduled period of the charter.

Diana Shipping’s fleet currently consists of 36 dry bulk vessels with a combined carrying capacity of approximately 4.1 million deadweight tonnage and a weighted average age of 11.72 years. The company also expects delivery of two methanol dual fuel new-building Kamsarmax dry bulk vessels by the second half of 2027 and first half of 2028, respectively.

The global shipping company specializes in the ownership and bareboat charter-in of dry bulk vessels that transport commodities such as iron ore, coal, grain, and other materials along worldwide shipping routes.

This information is based on a press release statement from the company.

In other recent news, Diana Shipping Inc. has been active with several time charter contracts and a vessel sale. The company secured a time charter contract for its Ultramax vessel, m/v DSI Pegasus, with Cargill Ocean Transportation at a rate of $14,250 per day, minus a 4.75% commission, set to commence on August 15, 2025, and lasting until mid-2026. Additionally, Diana Shipping entered into a contract for its Kamsarmax vessel, m/v Astarte, with Propel Shipping Pte. Ltd., offering a charter rate of $12,500 per day, minus a 5% commission, from August 2025 to potentially October 2026. Another contract was signed for the Ultramax vessel, m/v DSI Polaris, with Cargill Ocean Transportation at a rate of $12,250 per day, with a similar commission structure, spanning from July 2025 to possibly September 2026.

Furthermore, Diana Shipping agreed to sell its Panamax vessel, Selina, for approximately $11.8 million, with delivery scheduled by August 15, 2025. The company also secured a time charter for its Ice Class Panamax vessel, m/v Atalandi, with Stone Shipping Ltd., starting soon and extending until mid-2026, with a rate of $9,000 per day for the initial 35 days, increasing to $10,100 per day thereafter, minus a 5% commission. These developments reflect Diana Shipping’s strategic movements in vessel charters and asset sales.

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