Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, announced that through a separate wholly-owned subsidiary, it has entered into a time charter contract with Cargill Ocean Transportation (Singapore) Pte. Ltd., for one of its Ultramax dry bulk vessels, the m/v DSI Polaris. The gross charter rate is US$12,250, minus a 4.75% commission paid to third parties, for a period until minimum July 21, 2026 up to maximum September 21, 2026. The charter is expected to commence on July 1, 2025.
 

The “DSI Polaris” is a 60,404 dwt Ultramax dry bulk vessel built in 2018.
 

The employment of “DSI Polaris” is anticipated to generate approximately US$4.66 million of gross revenue for the minimum scheduled period of the time charter.
 

Upon completion of the previously announced sale of m/v Selina, Diana Shipping Inc.’s fleet will consist of 36 dry bulk vessels (4 Newcastlemax, 8 Capesize, 4 Post-Panamax, 6 Kamsarmax, 5 Panamax and 9 Ultramax). The Company also expects to take delivery of two methanol dual fuel new-building Kamsarmax dry bulk vessels by the second half of 2027 and the first half of 2028, respectively. As of today, the combined carrying capacity of the Company’s fleet, including the m/v Selina and excluding the two vessels not yet delivered, is approximately 4.1 million dwt, with a weighted average age of 11.65 years. 

source: Diana Shipping

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