Diana Shipping Secures Time Charter for the m/v Selina
Diana Shipping Inc. Entry into Time Charter Contract
Recently, Diana Shipping Inc. (NYSE: DSX), a leading global shipping firm, has made headlines by securing a time charter contract for its m/v Selina vessel. This exciting development demonstrates the company’s commitment to expanding its operations and optimizing its fleet utilization.
Details of the Contract
Through a dedicated wholly-owned subsidiary, Diana Shipping has partnered with Raffles Shipping International Pte. Ltd. for the charter of the m/v Selina. The charter is set at a gross rate of US$10,500 per day, with a deduction of a 5.00% commission for third-party services. This charter will run until at least March 1, 2025, with an extension option until April 20, 2025. It is anticipated that the charter will officially start tomorrow, marking a noteworthy operational milestone for the company.
About the m/v Selina
The m/v Selina is a notable Panamax dry bulk vessel, boasting a deadweight tonnage of 75,700 and a manufacturing year of 2010. The anticipated revenue from employing the Selina for the minimum contracted period is approximately US$1.39 million, indicating a solid financial prospect for the company.
Diana Shipping's Fleet Overview
Diana Shipping Inc. currently operates a robust fleet comprising 38 dry bulk vessels. This impressive fleet includes a mix of Newcastlemax, Capesize, Post-Panamax, Kamsarmax, Panamax, and Ultramax vessels. Furthermore, the company has plans to introduce two new methanol dual fuel Kamsarmax vessels by the latter half of 2027 and the early part of 2028.
The existing fleet collectively has a carrying capacity of around 4.2 million dwt, with an average age of 11.04 years, reflecting the company’s strong presence in the dry bulk shipping market.
Commitment to Sustainable Operations
As part of its growth strategy, Diana Shipping Inc. is focusing on sustainable operations by investing in newer, more efficient vessels. This commitment is underlined by the planned addition of methanol-fueled vessels, which aligns with the global trend toward sustainability in the shipping industry.
Company Information
Diana Shipping Inc. is recognized as a reliable provider of marine transportation services, specializing in the ownership and bareboat charter-in of dry bulk vessels. The company’s fleet primarily engages in short to medium-term charters, transporting various commodities including iron ore, coal, and grain across key global trade routes.
Corporate Contact Information
For further information about Diana Shipping Inc., you can contact:
Ioannis Zafirakis
Director, CFO, Chief Strategy Officer, Treasurer and Secretary
Telephone: +30-210-9470-100
Email: izafirakis@dianashippinginc.com
Website: www.dianashippinginc.com
Investor and Media Relations:
Edward Nebb
Comm-Counsellors, LLC
Telephone: +1-203-972-8350
Email: enebb@optonline.net
Frequently Asked Questions
What is the significance of the contract for the m/v Selina?
The contract marks a strategic partnership between Diana Shipping and Raffles Shipping, ensuring stable revenue generation for the company.
How much revenue is expected from this charter?
The employment of the m/v Selina is projected to yield approximately US$1.39 million in gross revenue over the minimum charter period.
What types of vessels does Diana Shipping operate?
Diana Shipping operates various classes of dry bulk vessels, including Newcastlemax, Capesize, Kamsarmax, Panamax, and Ultramax.
How old is the current fleet of Diana Shipping?
The average age of Diana Shipping’s fleet is about 11.04 years, reflecting a blend of experienced and newer vessels.
What is the company’s strategy for sustainability?
Diana Shipping is focusing on sustainability by investing in newer, efficient vessels, including plans for methanol dual fuel Kamsarmax vessels.
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