Diana Shipping Inc. Announces Time Charter Contracts for m/v New York with Refined Success and m/v DSI Pyxis with Oldendorff
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 Refined Success Limited, for one of its Capesize dry bulk vessels, the m/v New York. The gross charter rate is US$27,500 per day, minus a 5.00% commission paid to third parties, for a period until minimum February 1, 2028 up to maximum March 31, 2028. The charter is expected to commence on May 1, 2026. The m/v New York is currently chartered, as previously announced, at a gross charter rate of US$17,600 per day, minus a 5.00% commission paid to third parties.
The “New York” is a 177,773 dwt Capesize 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 Oldendorff GmbH & Co. KG, for one of its Ultramax dry bulk vessels, the m/v DSI Pyxis. The gross charter rate is US$16,000 per day, minus a 5.00% commission paid to third parties, for a period until minimum June 15, 2027 up to maximum August 15, 2027. The charter is expected to commence on May 3, 2026. The m/v DSI Pyxis is currently chartered, as previously announced, at a gross charter rate of US$13,100 per day, minus a 5.00% commission paid to third parties.
The “DSI Pyxis” is a 60,362 dwt Ultramax dry bulk vessel built in 2018.
The employments of “New York” and “DSI Pyxis” are anticipated to generate approximately US$23.76 million of gross revenue for the minimum scheduled period of the time charters.
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 12.43 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.
Performance Shipping Inc. Secures Five-Year Time Charter Contracts With Clearlake for Three Newbuilding Vessels at US$31,000 Per Vessel Per Day
Performance Shipping Inc., a global shipping company specializing in the ownership of tanker vessels, announced that, through separate wholly-owned subsidiaries, it has entered into time charter contracts with Clearlake Shipping Pte Ltd (the “Charterer”) for the previously announced three newbuilding LNG-ready, scrubber-fitted, LR2 Aframax tanker vessels. Each employment will be for a firm period of 5 years with the option to extend for a 6th and 7th year. The optional periods are to be declared by the Charterer 12 months in advance. The gross charter rate will be US$31,000 per vessel per day for the firm period of five (5) years, and a base rate plus profit share for the optional periods, if declared. Employment is expected to commence upon delivery of the vessels to the Company in the fourth quarter of 2025, the first quarter of 2026, and the second quarter of 2026.
Andreas Michalopoulos, the Company’s Chief Executive Officer, stated:
“We are thrilled to announce these time charter contracts for our newbuild vessels and the commencement of a strategic relationship with Clearlake Shipping, a subsidiary of Gunvor Group, one of the world’s largest independent commodities trading houses. These contracts highlight our prudent approach in securing long-term fixed revenue at profitable charter rates and achieving significant cash flow visibility during the initial years of operation of our three newbuilding sister ships. The gross revenue for the firm period of the contracts is expected to reach $169.8 million, representing approximately 88% of the aggregate construction costs. This increases our remaining fleet-wide fixed revenue backlog to approximately $211.4 million, based on the minimum duration of each charter.”
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 Contracts for m/v P. S. Palios with Olam and m/v Maia with Viterra
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 Olam International Limited, Singapore, for one of its Capesize dry bulk vessels, the m/v P. S. Palios. The gross charter rate is US$26,500 per day, minus a 4.75% commission paid to third parties, for a time charter period until minimum February 15, 2022 up to maximum April 15, 2022. The charter is expected to commence on June 6, 2021. The m/v P. S. Palios is currently chartered, as previously announced, to C Transport Maritime Ltd., Bermuda, at a gross charter rate of US$12,050 per day, minus a 5% commission paid to third parties.
The “P. S. Palios” is a 179,134 dwt Capesize dry bulk vessel built in 2013.
The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Viterra Chartering B.V., Rotterdam, for one of its Kamsarmax dry bulk vessels, the m/v Maia. The gross charter rate is US$25,000 per day, minus a 5% commission paid to third parties, for a period until minimum May 1, 2022 up to June 30, 2022. The charter is expected to commence on June 10, 2021. The m/v Maia is currently chartered, as previously announced, to Aquavita International S.A., at a gross charter rate of US$11,200 per day, minus a 5% commission paid to third parties.
The “Maia” is a 82,193 dwt Kamsarmax dry bulk vessel built in 2009.
The employments of “P. S. Palios” and “Maia” are anticipated to generate approximately US$14.62 million of gross revenue for the minimum scheduled period of the time charters.
Upon completion of the previously announced sale of one Panamax dry bulk vessel, the m/v Naias, Diana Shipping Inc.’s fleet will consist of 36 dry bulk vessels (4 Newcastlemax, 12 Capesize, 5 Post-Panamax, 5 Kamsarmax and 10 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Naias, is approximately 4.7 million dwt with a weighted average age of 10.29 years.
Diana Shipping Inc. Announces Time Charter Contracts for m/v San Francisco with Olam and m/v Aliki with Solebay
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 Olam International Limited, Singapore, for one of its Newcastlemax dry bulk vessels, the m/v San Francisco, for a period until minimum January 15, 2022 up to maximum March 15, 2022. The gross charter rate is US$17,750 per day for the first one hundred five (105) days of the charter period and US$24,700 per day for the balance period of the time charter, in each case minus a 5% commission paid to third parties. The charter commenced retroactively on February 11, 2021. The m/v San Francisco was chartered, as previously announced, to Koch Shipping Pte. Ltd., Singapore, at a gross charter rate of US$16,000 per day, minus a 5% commission paid to third parties.
The “San Francisco” is a 208,006 dwt Newcastlemax dry bulk vessel built in 2017.
The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Solebay Shipping Cape Company Limited, Hong Kong, for one of its Capesize dry bulk vessels, the m/v Aliki. The gross charter rate is US$20,500 per day, minus a 5% commission paid to third parties, for a period until minimum January 15, 2022 up to maximum March 15, 2022. The charter is expected to commence on March 19, 2021. The m/v Aliki is currently chartered, as previously announced, to Koch Shipping Pte. Ltd., Singapore, at a gross charter rate of US$11,300 per day, minus a 5% commission paid to third parties.
The “Aliki” is a 180,235 dwt Capesize dry bulk vessel built in 2005.
The employments of “San Francisco” and “Aliki” are anticipated to generate approximately US$13.56 million of gross revenue for the minimum scheduled period of the time charters.
Upon completion of the previously announced sale of one Panamax dry bulk vessel, the m/v Oceanis, 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 Oceanis, is approximately 4.8 million dwt with a weighted average age of 10.21 years.
Diana Shipping Inc. Announces Time Charter Contracts for m/v Santa Barbara With Cargill and m/v Salt Lake City With C Transport
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 Cargill International S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Santa Barbara. The gross charter rate is US$17,250 per day, minus a 4.75% commission paid to third parties, for a period until minimum January 5, 2022 up to maximum March 5, 2022. The charter is expected to commence tomorrow.
The “Santa Barbara” is a 179,426 dwt Capesize dry bulk vessel built in 2015.
The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with C Transport Maritime Ltd., Bermuda, for one of its Capesize dry bulk vessels, the m/v Salt Lake City. The gross charter rate is US$13,000 per day, minus a 5% commission paid to third parties, for a period until minimum April 1, 2022 up to maximum June 30, 2022. The charter is expected to commence tomorrow.
The “Salt Lake City” is a 171,810 dwt Capesize dry bulk vessel built in 2005.
The employments of “Santa Barbara” and “Salt Lake City” are anticipated to generate approximately US$11.89 million of gross revenue for the minimum scheduled period of the time charters.
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 10.26 years.