Diana Shipping Inc. Announces Direct Continuation of Time Charter Contract for m/v Myrto with NYK
Rhea-AI Summary
Diana Shipping (NYSE: DSX) extended the time charter of its Kamsarmax vessel m/v Myrto with Nippon Yusen Kabushiki Kaisha at a gross rate of US$16,650/day (less 5.00% commission) for a period from April 7, 2026 until minimum September 20, 2027 and maximum November 20, 2027.
The extension is expected to generate approximately US$8.71 million of gross revenue for the minimum period. Diana Shipping’s fleet totals 36 dry bulk vessels with combined carrying capacity ~4.1 million dwt and a weighted average age of 12.33 years. The company expects delivery of two methanol dual fuel Kamsarmax newbuilds in H2 2027 and H1 2028.
Positive
- Charter rate increase from US$12,000/day to US$16,650/day (+38.75%)
- Estimated gross revenue of US$8.71 million for the minimum extension period
- Fleet size maintained at 36 dry bulk vessels with ~4.1 million dwt capacity
- Two methanol dual fuel Kamsarmax newbuilds scheduled for H2 2027 and H1 2028
Negative
- 5.00% commission on the gross charter rate reduces net revenue to owners
- Weighted average fleet age of 12.33 years may suggest older tonnage relative to peers
News Market Reaction – DSX
In the Mar 23 session, DSX gained 3.90%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Mar 16 | Annual report filing | Neutral | +1.1% | Filed 2025 Form 20‑F with audited financial statements. |
| Mar 06 | Acquisition offer update | Neutral | -6.7% | Increased all‑cash offer to acquire Genco with Star Bulk. |
| Mar 04 | Time charter contract | Positive | -2.3% | New charter for m/v Crystalia at US$16,200/day plus multi‑year coverage. |
| Feb 26 | Earnings and dividend | Negative | -1.2% | Q4 2025 earnings declined year‑over‑year; declared $0.01 dividend. |
| Feb 12 | Time charter contract | Positive | -4.1% | New NYK charter for m/v Phaidra with expected $5.18M revenue. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent operational charter announcements for DSX have often been followed by negative price reactions despite their seemingly constructive nature, while regulatory and earnings updates have seen more mixed but generally modest moves.
Over the past months, Diana Shipping has combined routine disclosures with strategic moves. A Mar 16, 2026 Form 20‑F filing coincided with a small gain, while a higher all‑cash acquisition offer for Genco on Mar 6 saw shares fall. Multiple time charter deals in February and March locked in multi‑million‑dollar revenues, yet near-term price reactions were negative. Q4 2025 results on Feb 26 showed lower earnings versus 2024 and a modest $0.01 dividend, also followed by a decline, underscoring cautious sentiment around both corporate actions and operating updates.
Key Terms
bareboat charter-in financial
time charter contract financial
kamsarmax technical
methanol dual fuel technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
ATHENS, Greece, March 23, 2026 (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 Nippon Yusen Kabushiki Kaisha, Tokyo, for one of its Kamsarmax dry bulk vessels, the m/v Myrto. The gross charter rate is US
The “Myrto” is an 82,131 dwt Kamsarmax dry bulk vessel built in 2013.
The employment extension of “Myrto” is anticipated to generate approximately US
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 12.33 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:
Margarita Veniou
Chief Corporate Development, Governance &
Communications Officer and Secretary
Telephone: + 30-210-9470-100
Email: mveniou@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
