Diana Shipping's Latest Time Charter Agreement
Diana Shipping Inc. has made a significant move in the maritime sector by agreeing to a time charter contract with Stone Shipping Ltd. for its Ice Class Panamax dry bulk vessel, the m/v Atalandi. Under this contract, the gross rate stands at US$9,000 per day for the initial thirty-five days, followed by a rate of US$10,100 for the remainder of the charter period, after accounting for a 5.00% commission payable to third parties.
Details of the Charter Contract
This time charter is set to commence on June 9, 2025, and extends until at least June 15, 2026, potentially lasting up to August 15, 2026. During this time, the m/v Atalandi is expected to generate approximately US$3.62 million in gross revenue for the company.
About the m/v Atalandi
The m/v Atalandi, a notable asset in Diana Shipping's fleet, was constructed in 2014 and weighs in at 77,529 deadweight tons. Being classified as an Ice Class vessel, it is capable of navigating through icy waters, making it a valuable part of the company’s operational portfolio.
Overview of Diana Shipping's Fleet
Currently, Diana Shipping Inc.'s fleet includes 37 dry bulk vessels, which comprise various types such as 4 Newcastlemax, 8 Capesize, 4 Post-Panamax, 6 Kamsarmax, 6 Panamax, and 9 Ultramax vessels. This diverse fleet highlights the company's robust presence in the bulk shipping industry. Moreover, Diana Shipping anticipates the delivery of two new methanol dual fuel Kamsarmax vessels, with deliveries expected between late 2027 and early 2028, further enhancing their fleet's capabilities.
Fleet Capacity and Age
The combined carrying capacity currently stands at approximately 4.1 million deadweight tons, with an average vessel age of about 11.6 years. This positions Diana Shipping as a competitive player in the market, able to meet diverse shipping needs.
About Diana Shipping Inc.
Diana Shipping Inc. stands as a global provider of shipping transportation services focused primarily on the ownership and bareboat charters of dry bulk vessels. The company's operations facilitate the transport of various dry bulk commodities, such as iron ore, coal, grain, and more, across international shipping routes.
Looking Ahead
The charter with Stone Shipping marks a crucial step for Diana Shipping as it continues to strengthen its revenue streams and expand its operational capabilities. The ongoing developments within the fleet offer exciting opportunities for future growth and adaptability in a competitive marketplace.
Frequently Asked Questions
What is the initial gross charter rate agreed upon for the m/v Atalandi?
The initial gross charter rate for the m/v Atalandi is US$9,000 per day for the first thirty-five days of the charter period.
When is the charter for the m/v Atalandi expected to begin?
The charter for the m/v Atalandi is expected to commence on June 9, 2025.
What type of vessels is Diana Shipping primarily involved with?
Diana Shipping specializes in the ownership and bareboat charter-in of dry bulk vessels.
What revenue is anticipated from the m/v Atalandi's employment?
The m/v Atalandi is projected to generate approximately US$3.62 million in gross revenue for the minimum planned charter period.
How diverse is the fleet of Diana Shipping Inc.?
Diana Shipping Inc.'s fleet consists of 37 vessels, including Newcastlemax, Capesize, Post-Panamax, Kamsarmax, Panamax, and Ultramax types.
