Diana Shipping Inc. Secures Charter Contract for m/v G. P. Zafirakis
Diana Shipping Inc. Secures Charter Contract for m/v G. P. Zafirakis
Diana Shipping Inc. (NYSE: DSX), a global shipping company focusing on the ownership and bareboat charter-in of dry bulk vessels, has recently entered into a time charter contract with Nippon Yusen Kabushiki Kaisha for its Capesize dry bulk vessel, the m/v G. P. Zafirakis. The contract stipulates a gross charter rate of US$26,800 per day, excluding a 5.00% commission paid to third parties, for a minimum of 23 months up to a maximum of 26 months. The charter is anticipated to commence on a specified date in September.
Details of the Charter Agreement
The employment of the m/v G. P. Zafirakis is projected to generate around US$18.49 million of gross revenue over the minimum scheduled duration of this time charter. The vessel had previously been chartered to Solebay Shipping Cape Company Limited at a different gross charter rate.
Specifications of the m/v G. P. Zafirakis
The m/v G. P. Zafirakis is a Capesize dry bulk vessel with a carrying capacity of 179,492 dwt, constructed in 2014. The ship is part of Diana Shipping Inc.’s extensive fleet, contributing to its growing operations in the dry bulk market.
Fleet Expansion and Future Plans
Following the planned sale of another vessel, the fleet of Diana Shipping Inc. will consist of 38 dry bulk vessels, categorized into different classes including Newcastlemax, Capesize, Post-Panamax, Kamsarmax, Panamax, and Ultramax. The company has plans to integrate two new methanol dual fuel Kamsarmax vessels into their fleet by the end of 2027.
Diana Shipping Inc.'s Market Position
The combination of charter agreements such as this one, along with the strategic expansion of their fleet, positions Diana Shipping Inc. favorably within the global shipping industry. The company demonstrates a commitment to providing efficient shipping solutions by utilizing modern technology in their operations.
Impact of Global Trends on Shipping
The shipping industry continuously faces various challenges, including fluctuations in demand, regulatory changes, and global economic conditions. The current geopolitical landscape and energy market dynamics also influence shipping routes and the availability of dry bulk shipping capacity.
About Diana Shipping Inc.
Diana Shipping Inc. serves as a leading global provider of shipping transportation services, specializing primarily in the short to medium-term time charters for their fleet. The company transports a range of dry bulk commodities, including iron ore, coal, and grains across international routes. Known for their operational excellence, Diana Shipping Inc. continues to establish its reputation within the shipping community.
Frequently Asked Questions
What is the m/v G. P. Zafirakis?
The m/v G. P. Zafirakis is a Capesize dry bulk vessel owned by Diana Shipping Inc., and it was built in 2014 with a deadweight tonnage of 179,492 dwt.
What charter rate has been set for the m/v G. P. Zafirakis?
The charter rate for the m/v G. P. Zafirakis has been set at US$26,800 per day, excluding certain commissions.
How long is the time charter agreement?
The time charter agreement is for a minimum of 23 months and can extend up to 26 months.
What does the future hold for Diana Shipping Inc.?
Diana Shipping Inc. plans to expand its fleet with two new methanol dual fuel Kamsarmax vessels scheduled for delivery by the end of 2027 and beginning of 2028.
How does Diana Shipping Inc. position itself in the market?
The company leverages strategic charter agreements and fleet expansions to strengthen its market position and adapt to changing global shipping conditions.
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