Diana Shipping Inc. Secures Long-Term Charters for Key Vessels
Diana Shipping Inc. Expands Charter Agreements for Strategic Growth
Diana Shipping Inc. (NYSE: DSX), a prominent player in the global shipping industry specializing in dry bulk vessel operations, has recently made important strides to enhance its revenue streams. The company, through a wholly-owned subsidiary, has secured an extension of the time charter contract for its Capesize dry bulk vessel, the m/v Semirio, with Solebay Shipping Cape Company Limited. This contract is set at a gross charter rate of US$21,650 per day, minus a 5% commission to third parties, effective from March 15, 2026, with a duration extending to the minimum of January 31, 2027, up to a maximum of April 15, 2027. Previously, the m/v Semirio was chartered at a rate of US$16,650 per day under another agreement.
Details About the m/v Semirio
The m/v Semirio is a Capesize vessel boasting a deadweight tonnage of 174,261 dwt and was built in 2007. Its expansive capacity allows it to handle significant bulk cargo, making it a vital asset in Diana Shipping’s fleet.
New Charter with CRC Shipping for m/v Maera
In addition to the m/v Semirio, Diana Shipping Inc. has established a time charter with CRC Shipping Pte. Ltd. for its Panamax vessel, the m/v Maera. This charter provides a gross rate of US$11,750, also subject to a 5% commission, with the contract lasting until at least October 20, 2026, with a maximum term until December 20, 2026. The commencement of this charter is anticipated on November 2, 2025, and it replaces a prior agreement where the vessel was earning US$8,400 per day.
Specifications of the m/v Maera
The m/v Maera, constructed in 2013, measures at 75,403 dwt, making it a versatile choice for transporting various dry bulk commodities efficiently. This vessel’s operational capabilities further enhance the strategic position of Diana Shipping in the bulk shipping market.
Projected Revenue Generation from Charters
With the new charter agreements in place, both the m/v Semirio and m/v Maera are expected to contribute approximately US$10.93 million in gross revenue over the minimum scheduled duration of their respective charters. This significant revenue generation not only solidifies Diana Shipping's financial forecasts but also showcases the company's robust operational model in the bulk shipping sector.
Current Fleet and Future Prospects
Currently, Diana Shipping's fleet comprises 36 dry bulk vessels, including 4 Newcastlemax, 8 Capesize, 4 Post-Panamax, 6 Kamsarmax, 5 Panamax, and 9 Ultramax ships. The company also plans to enhance its fleet by delivering two new methanol dual fuel Kamsarmax vessels, slated for late 2027 and early 2028. This expansion reflects Diana Shipping's commitment to sustainability and innovation in maritime transport.
An Overview of Diana Shipping Inc.
Diana Shipping Inc. stands out as a reputable name in shipping transportation services, focusing on the ownership and bareboat charter-in of dry bulk vessels. The company primarily engages in short to medium-term time charters, enabling it to efficiently transport essential commodities like iron ore, coal, and grain across various global shipping routes. Diana’s strategic management and market positioning continue to offer resilient performance amidst the fluctuating maritime landscape.
Frequently Asked Questions
What are the details of the m/v Semirio's new charter?
The m/v Semirio has a new charter rate of US$21,650 per day, extending its contract until between January 31 and April 15, 2027.
Who has chartered the m/v Maera and what are the financial details?
The m/v Maera has been chartered by CRC Shipping for a gross rate of US$11,750 per day, running until at least October 20, 2026.
How much revenue are the new charters expected to generate?
Both charters are projected to generate approximately US$10.93 million over their minimum durations.
What is the current composition of Diana Shipping's fleet?
Diana Shipping's fleet consists of 36 dry bulk vessels, including various classes such as Capesize and Panamax.
What future plans does Diana Shipping have for its fleet?
The company plans to take delivery of two new methanol dual fuel vessels by 2027 and 2028, enhancing its fleet capabilities.
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