Diana Shipping Secures Time Charter for m/v Leonidas P. C.

Diana Shipping's Bold Move in the Dry Bulk Market

ATHENS, Greece — Diana Shipping Inc. (NYSE: DSX), a leading name in global shipping and dry bulk vessel management, has made an impactful announcement regarding its operations. The company has confirmed a new time charter contract with Nippon Yusen Kabushiki Kaisha, a significant player in the shipping industry known for its reliability and extensive network.

This exciting agreement involves the m/v Leonidas P. C., a Kamsarmax size dry bulk vessel that showcases the company's strong fleet capabilities. What’s noteworthy is the gross charter rate set at US$14,000 per day, reflecting the ongoing demand for quality maritime transport in global markets.

Details of the Charter Agreement

Terms of the Contract

The time charter is established to last from the expected start date of September 24, 2025, until a minimum of September 15, 2026, with an option to extend until November 15, 2026. This flexibility allows Diana Shipping to adapt to market demands and operational needs, ensuring optimal revenue.

Expected Revenue Impact

Under this agreement, the m/v Leonidas P. C. is anticipated to generate around US$4.93 million in gross revenue for the minimum duration of the contract. This projection highlights the vessel's potential contribution to Diana Shipping's financial health during the charter period.

The Fleet Highlights

Diana Shipping's current fleet comprises 36 dry bulk vessels that range from Newcastlemax to Ultramax sizes. This diversity allows the company to service varying demand across different cargo types, including iron ore, coal, and grain. The weighted average age of their fleet stands at 11.83 years, demonstrating the company's commitment to maintaining a modern and efficient fleet.

Moreover, Diana is set to enhance its fleet further with the delivery of two new methanol dual-fuel Kamsarmax vessels, expected between 2027 and 2028. This strategic move aligns with global trends towards more environmentally friendly shipping practices, positioning Diana Shipping favorably in the competitive maritime industry.

About Diana Shipping Inc.

As a prominent provider of shipping transportation services, Diana Shipping specializes in the ownership and bareboat charter-in of dry bulk vessels. Their operations primarily involve time charters that ensure stable and predictable revenue while meeting the transportation needs of essential commodities worldwide. The company continues to adapt and innovate in response to market dynamics.

Corporate Leadership and Vision

The leadership at Diana Shipping Inc., including Ioannis Zafirakis as Director and Chief Financial Officer, continues to steer the company toward strategic growth. Their focus on maintaining a robust fleet alongside exploring new business opportunities reflects a vision grounded in sustainability and adaptability.

Frequently Asked Questions

What type of vessel is the m/v Leonidas P. C.?

The m/v Leonidas P. C. is a Kamsarmax dry bulk vessel, recognized for its capacity and efficiency in transporting bulk cargo.

How long is the time charter with NYK?

The time charter is set for a minimum period ending September 15, 2026, with the possibility of extension until November 15, 2026.

What is the expected gross revenue from the charter?

Diana Shipping anticipates generating approximately US$4.93 million in gross revenue from this time charter.

What is the significance of the new methanol dual-fuel vessels?

The addition of methanol dual-fuel vessels reflects Diana Shipping's commitment to sustainability and reducing environmental impact in shipping operations.

Who is the corporate contact for more information?

The corporate contact is Ioannis Zafirakis, reachable via phone at +30-210-9470-100 or through email at izafirakis@dianashippinginc.com.

About The Author

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