Diana Shipping Inc. Announces Time Charter Contract for m/v Crystalia with SwissMarine
Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with SwissMarine Pte. Ltd., Singapore, for one of its Panamax dry bulk vessels, the m/v Crystalia. The gross charter rate is US$16,200 per day, minus a 5.00% commission paid to third parties, for a period until minimum March 10, 2027 up to maximum May 10, 2027. The charter is expected to commence on March 11, 2026. The m/v Crystalia is currently chartered, as previously announced, to Louis Dreyfus Company Freight Asia Pte. Ltd., at a gross charter rate of US$13,900 per day, minus a 5.00% commission paid to third parties.
The “Crystalia” is a 77,525 dwt Ice Class Panamax dry bulk vessel built in 2014.
The employment of “Crystalia” is anticipated to generate a total of approximately US$5.78 million of gross revenue for the minimum scheduled period of the time charter.
Diana Shipping Inc.’s fleet currently consists 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, excluding the two vessels not yet delivered, is approximately 4.1 million dwt, with a weighted average age of 12.28 years. A table describing the current Diana Shipping Inc. fleet can be found on the Company’s website, www.dianashippinginc.com. Information contained on the Company’s website does not constitute part of this press release.
Diana Shipping Inc. Announces Time Charter Contract for m/v Seattle with SwissMarine and the Sale of m/v DSI Drammen
Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with SwissMarine Pte. Ltd., Singapore, for one of its Capesize dry bulk vessels, the m/v Seattle. The gross charter rate is US$24,500, minus a 5.00% commission paid to third parties, for a period until minimum May 1, 2027 up to maximum June 30, 2027. The charter is expected to commence on November 26, 2025. The m/v Seattle was chartered, as previously announced, to Solebay Shipping Cape Company Limited, Hong Kong, at a gross charter rate of US$17,500 per day, minus a 5.00% commission paid to third parties.
The “Seattle” is an 179,362 dwt Capesize bulk vessel built in 2011.
The employment of “Seattle” is anticipated to generate approximately US$12.62 million of gross revenue for the minimum scheduled period of the time charter.
The Company also announced that it has signed, through a limited partnership, a Memorandum of Agreement to sell to an unaffiliated third party, the 2016-built Ultramax dry bulk vessel m/v DSI Drammen, with delivery to the buyer latest by March 31, 2026, for a sale price of approximately US$26.40 million before commissions. The vessel has now been sold to a buyer, entirely unrelated to the previous one who failed to complete the transaction. The Company, through its wholly-owned subsidiaries, holds a 25% interest in the limited partnership, while the remaining 75% of the limited partnership is owned by Ecobulk AS, a Norwegian entity.
Diana Shipping Inc.’s fleet currently consists 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, excluding m/v DSI Drammen and the two vessels not yet delivered, is approximately 4.1 million dwt, with a weighted average age of 11.99 years. A table describing the current Diana Shipping Inc. fleet can be found on the Company’s website, www.dianashippinginc.com. Information contained on the Company’s website does not constitute part of this press release.
Diana Shipping Inc. Announces the Sale of a Post-Panamax Dry Bulk Vessel, the m/v Alcmene, and the Direct Continuation of Time Charter Contract for m/v San Francisco with SwissMarine
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 it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party, the 2010-built Post-Panamax vessel “Alcmene”, with delivery to the buyer latest by March 7, 2025, for a sale price of approximately US$11.9 million before commissions.
The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with SwissMarine Pte. Ltd., Singapore, for one of its Newcastlemax dry bulk vessels, the m/v San Francisco. The gross charter rate is US$26,000 per day, minus a 5.00% commission paid to third parties, for a period until minimum October 25, 2026 up to maximum December 25, 2026. The new charter period is expected to commence on February 27, 2025. The m/v San Francisco is currently chartered, as previously announced, at a gross charter rate of US$22,000 per day, minus a 5.00% commission paid to third parties.
The “San Francisco” is a 208,006 dwt Newcastlemax dry bulk vessel built in 2017.
The employment extension of “San Francisco” is anticipated to generate approximately US$15.55 million of gross revenue for the minimum scheduled period of the time charter.
Upon completion of the aforementioned sale, Diana Shipping Inc.’s fleet will consist of 37 dry bulk vessels (4 Newcastlemax, 8 Capesize, 4 Post-Panamax, 6 Kamsarmax, 6 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 Alcmene and excluding the two vessels not yet delivered, is approximately 4.2 million dwt with a weighted average age of 11.37 years. A table describing the current Diana Shipping Inc. fleet can be found on the Company’s website, www.dianashippinginc.com. Information contained on the Company’s website does not constitute a part of this press release.
Diana Shipping Inc. Announces Time Charter Contract for m/v New York With SwissMarine
Diana Shipping Inc., 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 SwissMarine Pte. Ltd., Singapore, for one of its Capesize dry bulk vessels, the m/v New York. The gross charter rate is US$16,000 per day, minus a 5% commission paid to third parties, for a period until minimum October 1, 2024 up to maximum December 7, 2024. The charter is expected to commence on June 11, 2023.
The “New York” is a 177,773 dwt Capesize dry bulk vessel built in 2010.
The employment of “New York” is anticipated to generate approximately US$7.54 million of gross revenue for the minimum scheduled period of the time charter.
Diana Shipping Inc.’s fleet currently consists of 42 dry bulk vessels: 4 Newcastlemax, 10 Capesize, 5 Post-Panamax, 6 Kamsarmax, 7 Panamax and 10 Ultramax (including a partial interest through a joint venture arrangement in one Ultramax). As of today, the combined carrying capacity of the Company’s fleet is approximately 4.7 million dwt with a weighted average age of 10.13 years.
Diana Shipping Inc. Announces Time Charter Contracts for m/v Alcmene with SwissMarine, m/v G. P. Zafirakis and m/v Ismene with Cargill
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with SwissMarine Pte Ltd., Singapore, for one of its Post-Panamax dry bulk vessels, the m/v Alcmene. The gross charter rate is US$17,100 per day, minus a 5% commission paid to third parties, for a time charter period until minimum December 20, 2022 up to maximum March 5, 2023. The charter is expected to commence on November 24, 2021.
The “Alcmene” is a 93,193 dwt Post-Panamax dry bulk vessel built in 2010.
The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Cargill International S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v G. P. Zafirakis. The gross charter rate is US$22,750 per day, minus a 4.75% commission paid to third parties, for a period until minimum November 1, 2022 up to December 31, 2022. The charter is expected to commence on December 3, 2021. The m/v G. P. Zafirakis is currently chartered, as previously announced, to Koch Shipping Pte. Ltd., Singapore, at a gross charter rate of US$13,200 per day, minus a 5% commission paid to third parties.
The “G. P. Zafirakis” is a 179,492 dwt Capesize dry bulk vessel built in 2014.
In addition, the Company announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Cargill International S.A., Geneva, for one of its Panamax dry bulk vessels, the m/v Ismene. The gross charter rate is US$18,500 per day, minus a 4.75% commission paid to third parties, for a a time charter period until minimum December 15, 2022 up to maximum February 15, 2023. The charter is expected to commence tomorrow. The m/v Ismene is currently chartered, as previously announced, to Tongli Shipping Pte. Ltd., at a gross charter rate of US$16,500 per day, minus a 5% commission paid to third parties.
The “Ismene” is a 77,901 dwt Panamax dry bulk vessel built in 2013.
The employments of “Alcmene”, “G. P. Zafirakis” and “Ismene” are anticipated to generate approximately US$21.13 million of gross revenue for the minimum scheduled period of the time charters.
Diana Shipping Inc. Announces Time Charter Contract for m/v Electra with SwissMarine
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with SwissMarine Pte Ltd., Singapore, for one of its Post-Panamax dry bulk vessels, the m/v Electra. The gross charter rate is US$12,500 per day, minus a 5% commission paid to third parties, for a period until maximum March 30, 2021. The charter commenced on January 4, 2021. The m/v Electra was chartered, as previously announced, to Oldendorff Carriers GMBH & Co. KG, Lübeck, Germany, at a gross charter rate of US$10,250 per day, minus a 5% commission paid to third parties.
The “Electra” is a 87,150 dwt Post-Panamax dry bulk vessel built in 2013.
The employment of “Electra” is anticipated to generate approximately US$1.06 million of gross revenue for the minimum scheduled period of the time charter.
Upon completion of the previously announced sales of two Panamax dry bulk vessels, the m/v Coronis and the m/v Oceanis, and one Capesize dry bulk vessel, the m/v Sideris GS, Diana Shipping Inc.’s fleet will consist of 37 dry bulk vessels (4 Newcastlemax, 12 Capesize, 5 Post-Panamax, 5 Kamsarmax and 11 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Coronis, the m/v Oceanis and the m/v Sideris GS, is approximately 5.0 million dwt with a weighted average age of 10.27 years.