Diana Shipping Inc. Announces Direct Continuation of Time Charter Contract for m/v Semirio With Solebay and Time Charter Contract for m/v Maera With CRC Shipping

Rhea-AI Summary

Diana Shipping (NYSE: DSX) extended a Capesize time charter for the m/v Semirio at a gross rate of US$21,650/day (less 5% commission) for a period from March 15, 2026 until a minimum of January 31, 2027 and maximum April 15, 2027.

It also fixed a Panamax time charter for the m/v Maera at US$11,750/day (less 5% commission) from November 2, 2025 until a minimum of October 20, 2026 and maximum December 20, 2026. Combined minimum-period gross revenue is expected to be approximately US$10.93 million.

The fleet totals 36 dry bulk vessels (combined carrying capacity ~4.1 million dwt) and the company expects delivery of two methanol dual-fuel Kamsarmax newbuilds by H2 2027 and H1 2028; fleet weighted average age is 11.91 years.

Positive

• Semirio charter at US$21,650/day
• Maera charter at US$11,750/day
• Estimated gross revenue of ~US$10.93 million for minimum periods
• Fleet size of 36 vessels (~4.1 million dwt)

Negative

• Charters are short-term with limited revenue visibility
• Third-party 5% commissions reduce net charter receipts
• Fleet weighted average age 11.91 years may imply higher maintenance exposure

Insights

Shipping charter economist

Higher charter rates and confirmed hires boost near‑term revenue and utilization for Diana Shipping.

Diana Shipping Inc. secures time charters that raise the gross daily rate on the m/v Semirio from $16,650 to $21,650 (minus 5.00% commission) starting March 15, 2026, and the m/v Maera from $8,400 to $11,750 (minus 5.00%) starting November 2, 2025. These contracts together are expected to generate about $10.93 million of gross revenue for the minimum scheduled periods, directly improving near‑term cash flow and fleet utilization for the named vessels.

The outcome depends on the stated commencement and minimum end dates (March 15, 2026 to between January 31, 2027 and April 15, 2027 for Semirio; November 2, 2025 to between October 20, 2026 and December 20, 2026 for Maera). Counterparties and charter durations are explicit; revenue and rate uplift are factual. Risks include counterparty performance and vessel availability during the stated windows, which would affect realized revenue and timing.

Watch the charter commencement dates (Nov 2, 2025 and Mar 15, 2026), the minimum expiry dates (Oct 20, 2026 and Jan 31, 2027), and whether the expected $10.93 million of gross revenue is realized for the minimum periods. These items will confirm cash flow impact within the next 3–16 months.

ATHENS, Greece, Oct. 22, 2025 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has extended the time charter contract with Solebay Shipping Cape Company Limited, Hong Kong, for one of its Capesize dry bulk vessels, the m/v Semirio. The gross charter rate is US$21,650 minus a 5.00% commission paid to third parties, for a period until minimum January 31, 2027 up to maximum April 15, 2027. The new charter period is expected to commence on March 15, 2026. The m/v Semirio is currently chartered, as previously announced, at a gross charter rate of US$16,650 per day, minus a 5.00% commission paid to third parties.

The “Semirio” is an 174,261 dwt Capesize dry bulk vessel built in 2007.

The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with CRC Shipping Pte. Ltd., Singapore, for one of its Panamax dry bulk vessels, the m/v Maera. The gross charter rate is US$11,750, minus a 5.00% commission paid to third parties, for a period until minimum October 20, 2026 up to maximum December 20, 2026. The new charter period is expected to commence on November 2, 2025. The m/v Maera is currently chartered, as previously announced, to China Resource Chartering Limited, Hong Kong, at a gross charter rate of US$8,400 per day, minus a 5.00% commission paid to third parties.

The “Maera” is a 75,403 dwt Panamax bulk vessel built in 2013.

The employments of “Semirio” and “Maera” are anticipated to generate a total of approximately US$10.93 million of gross revenue for the minimum scheduled period of the time charters.

Diana Shipping Inc.’s fleet currently consists of 36 dry bulk vessels (4 Newcastlemax, 8 Capesize, 4 Post-Panamax, 6 Kamsarmax, 5 Panamax and 9 Ultramax). The Company also expects to take delivery of two methanol dual fuel new-building Kamsarmax dry bulk vessels by the second half of 2027 and the first half of 2028, respectively. As of today, the combined carrying capacity of the Company’s fleet, excluding the two vessels not yet delivered, is approximately 4.1 million dwt, with a weighted average age of 11.91 years. A table describing the current Diana Shipping Inc. fleet can be found on the Company’s website, www.dianashippinginc.com. Information contained on the Company’s website does not constitute part of this press release.

About the Company

Diana Shipping Inc. is a global provider of shipping transportation services through its ownership and bareboat charter-in of dry bulk vessels. The Company’s vessels are employed primarily on short to medium-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.

Cautionary Statement Regarding Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.

The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,” “should,” “expect,” “pending” and similar expressions identify forward-looking statements.

The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, Company management’s examination of historical operating trends, data contained in the Company’s records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond the Company’s control, the Company cannot assure you that it will achieve or accomplish these expectations, beliefs or projections.

In addition to these important factors, other important factors that, in the Company’s view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for dry bulk shipping capacity, changes in the Company’s operating expenses, including bunker prices, drydocking and insurance costs, the market for the Company’s vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, tariff policies and other trade restrictions, potential liability from pending or future litigation, general domestic and international political conditions, including risks associated with the continuing conflict between Russia and Ukraine and related sanctions, potential disruption of shipping routes due to accidents or political events, including the escalation of the conflict in the Middle East, vessel breakdowns and instances of off-hires and other factors. Please see the Company’s filings with the U.S. Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

Corporate Contact:
Ioannis Zafirakis 
Director, Co-Chief Financial Officer, 
Chief Strategy Officer, 
Treasurer and Secretary 
Telephone: + 30-210-9470-100 
Email: izafirakis@dianashippinginc.com
Website: www.dianashippinginc.com
X: @Dianaship 
                                
Investor Relations/Media Contact:
Nicolas Bornozis / Daniela Guerrero 
Capital Link, Inc. 
230 Park Avenue, Suite 1540 
New York, N.Y. 10169 
Tel.: (212) 661-7566 
Email: diana@capitallink.com

FAQ

What are the terms of Diana Shipping's (DSX) m/v Semirio time charter announced Oct 22, 2025?

The Semirio is fixed at a gross rate of US$21,650/day minus 5% commission, commencing March 15, 2026 for a period until minimum Jan 31, 2027 and maximum Apr 15, 2027.

When does the m/v Maera time charter for DSX start and what rate does it pay?

The Maera charter is expected to commence on Nov 2, 2025 at a gross rate of US$11,750/day, minus 5% commission, through a minimum of Oct 20, 2026.

How much gross revenue will the two DSX charters generate for the minimum scheduled period?

The employments of Semirio and Maera are anticipated to generate approximately US$10.93 million of gross revenue for the minimum scheduled periods.

What is Diana Shipping's fleet size and carrying capacity as of Oct 22, 2025?

Diana Shipping's fleet consists of 36 dry bulk vessels with combined carrying capacity of approximately 4.1 million dwt (excluding two newbuilds).

When are Diana Shipping's two methanol dual-fuel Kamsarmax newbuilds expected for delivery?

The two methanol dual-fuel Kamsarmax newbuilds are expected by second half of 2027 and first half of 2028, respectively.