Diana Shipping Secures Time Charter for DSI Pegasus Vessel
Diana Shipping Inc. Secures Charter Deal for DSI Pegasus
Diana Shipping Inc. (NYSE: DSX), a key player in the global shipping industry, has made headlines with its latest announcement today. The company has successfully negotiated a time charter contract for its Ultramax dry bulk vessel, the m/v DSI Pegasus, in partnership with Cargill Ocean Transportation. This agreement marks a significant step forward in their operations, emphasizing their continuous growth in the shipping sector.
Charter Agreement Details
The time charter contract is set at a gross charter rate of US$14,250 per day, with a minor commission fee of 4.75% payable to third parties. This charter is positioned to run from a minimum period until May 20, 2026, extending potentially until July 20, 2026. The commencement of this charter is anticipated to begin on August 15, 2025. Such arrangements are crucial for Diana Shipping as they navigate the market's evolving demands.
Operational Insights
The m/v DSI Pegasus is a robust Ultramax vessel with a deadweight tonnage of 60,508, meticulously built in 2015. This vessel's employment is projected to yield around US$3.92 million in gross revenues during the initial charter period, a significant contribution to the company's financial portfolio.
About Diana Shipping's Fleet
Currently, Diana Shipping’s fleet comprises 36 dry bulk vessels spread across various categories—4 Newcastlemax, 8 Capesize, 4 Post-Panamax, 6 Kamsarmax, 5 Panamax, and 9 Ultramax vessels. In a strategic move forward, the company anticipates the addition of two new methanol dual-fuel Kamsarmax vessels in the latter half of 2027 and early 2028. This expansion aims to enhance the fleet's capacity and operational efficiency.
Fleet Capacity and Age
As it stands, the collective carrying capacity of Diana Shipping’s fleet is approximately 4.1 million dwt, with a comforting average age of 11.71 years. These metrics illustrate the company’s commitment to maintaining a high-performing and modern fleet in an increasingly competitive market.
Company Profile
Diana Shipping Inc. operates a diversified portfolio, engaged primarily in the ownership and bareboat charter-in of dry bulk vessels. These vessels are strategically employed on short to medium-term time charters, delivering a wide range of dry bulk cargoes globally, including iron ore, coal, and grains.
Sustainability and Future Directions
Looking ahead, Diana Shipping emphasizes sustainability and innovation alongside its operational strategies. With an eye on future challenges and opportunities within the shipping industry, policies support a gradual transition towards more sustainable shipping practices, reducing carbon footprints while maintaining competitive service offerings.
Conclusion and Contact Information
In closing, the charter agreement for the m/v DSI Pegasus underscores Diana Shipping Inc.'s proactive approach to securing revenue and expanding its global footprint. Interested stakeholders can reach out to the corporate contact, Ioannis Zafirakis, at +30-210-9470-100 or via email at izafirakis@dianashippinginc.com. More information about the company can be explored at www.dianashippinginc.com.
Frequently Asked Questions
What is the charter rate for the m/v DSI Pegasus?
The gross charter rate for the m/v DSI Pegasus is set at US$14,250 per day.
Who is the charter partner for Diana Shipping?
Diana Shipping has entered into a partnership with Cargill Ocean Transportation for this charter.
What is the revenue expectation from this charter?
The agreement is expected to generate approximately US$3.92 million in gross revenue during the minimum charter period.
What type of vessel is the m/v DSI Pegasus?
The m/v DSI Pegasus is classified as an Ultramax dry bulk vessel.
How many vessels are in Diana Shipping's fleet?
Diana Shipping currently operates a fleet of 36 dry bulk vessels comprising various types and sizes.
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