Diana Shipping Secures Time Charter with SwissMarine for m/v New Orleans

Diana Shipping Inc. Engages SwissMarine for m/v New Orleans Charter

ATHENS, Greece – Diana Shipping Inc. (NYSE: DSX) has made a significant move in its operations by entering into a time charter agreement with SwissMarine Pte. Ltd. for its impressive Capesize bulk carrier, the m/v New Orleans. This contract not only strengthens the company's portfolio but also reflects its continuous commitment to optimizing its revenue streams.

Details of the Charter Agreement

The time charter establishes a gross rate of US$26,000 per day, subject to a 5% commission payable to third parties. This agreement is set to commence on October 28, 2025, and will last until at least December 1, 2026, with a potential extension up to February 15, 2027. With a previous charter to Kawasaki Kisen Kaisha Ltd. at a slightly lower rate, this new contract signals a positive financial outlook for Diana Shipping Inc.

Financial Anticipations

Based on the terms of the charter, Diana Shipping Inc. anticipates generating around US$10.22 million in gross revenue for the minimum scheduled period. This helps highlight the strategic financial planning and market positioning of the company in the increasingly competitive dry bulk shipping industry.

Overview of the Fleet

Diana Shipping Inc. boasts a robust fleet consisting of 36 dry bulk vessels, including 4 Newcastlemax, 8 Capesize, 4 Post-Panamax, 6 Kamsarmax, 5 Panamax, and 9 Ultramax vessels. This diverse fleet allows the company to cater to a wide range of cargo needs, from iron ore to coal and grain, across various global shipping routes. Furthermore, the company plans to expand its fleet with the addition of two methanol dual fuel Kamsarmax vessels expected by 2027.

Global Reach and Robust Operations

The company’s significant carrying capacity stands at approximately 4.1 million deadweight tons, with a weighted average vessel age of about 11.89 years. This combination of capacity and fleet age positions Diana Shipping Inc. as a reliable player in the shipping sector, capable of adapting to market demands.

About Diana Shipping Inc.

As a global provider of shipping transportation services, Diana Shipping Inc. specializes in the ownership and bareboat charter-in of dry bulk vessels. The company's operational model predominantly focuses on short to medium-term time charters, enabling them to manage risks while effectively navigating market fluctuations.

Industry Context and Future Prospects

The current economic environment presents both challenges and opportunities for Diana Shipping Inc. Factors such as global demand for dry bulk shipping capacity, market volatility, and geopolitical tensions may influence operational outcomes. However, the company's proactive strategies and diversified fleet are designed to mitigate risks and capitalize on favorable conditions as they arise.

Frequently Asked Questions

What is the significance of the charter with SwissMarine?

This charter enhances Diana Shipping Inc.'s revenue potential and fleet utilization, signaling strong market demand for their vessels.

What types of vessels does Diana Shipping Inc. operate?

The company operates a diverse fleet including Newcastlemax, Capesize, Post-Panamax, Kamsarmax, Panamax, and Ultramax vessels.

How does Diana Shipping Inc. plan to expand its fleet?

They aim to take delivery of two new methanol dual fuel Kamsarmax vessels by the second half of 2027 and early 2028.

What is Diana Shipping Inc.'s projected revenue from this charter?

Diana Shipping Inc. expects to generate approximately US$10.22 million over the minimum term of the new charter.

Who can I contact for more information about the company?

You can reach out to Ioannis Zafirakis, the Director and Co-Chief Financial Officer, via email at izafirakis@dianashippinginc.com or visit their website.

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