Diana Shipping Inc. Announces Direct Continuation of Time Charter Contract for m/v Maia with Paralos Shipping

Rhea-AI Summary

Diana Shipping (NYSE: DSX) entered a time charter for the Kamsarmax m/v Maia with Paralos Shipping at a gross rate of US$14,000/day (less a 5.00% commission) for a period commencing ~January 13, 2026 and running until a minimum of July 5, 2027 and a maximum of September 5, 2027. The vessel was previously chartered at US$11,600/day (less 5.00% commission). The employment is expected to generate approximately US$7.45 million of gross revenue for the minimum scheduled period. Diana Shipping's fleet currently totals 36 dry bulk vessels and combined carrying capacity of ~4.1 million dwt (weighted average age 12.13 years), and the company expects delivery of two methanol dual fuel Kamsarmax newbuilds in H2 2027 and H1 2028.

Positive

• Gross charter rate increased to US$14,000/day from US$11,600/day
• Estimated US$7.45 million gross revenue for the minimum charter period
• 36-vessel fleet with combined capacity ~4.1 million dwt
• Two methanol dual fuel Kamsarmax newbuilds expected in H2 2027 and H1 2028

Negative

• Gross charter is subject to a 5.00% commission to third parties
• Fleet has a weighted average age of 12.13 years

News Market Reaction – DSX

+3.37%

+3.37% Session close to close

In the Jan 8 session, DSX gained 3.37%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement extends employment for the Kamsarmax m/v Maia at a higher rate of US$14,000/day ve...

Analysis

This announcement extends employment for the Kamsarmax m/v Maia at a higher rate of US$14,000/day versus the prior US$11,600/day, adding about US$7.45 million of minimum gross revenue. It continues a series of time-charter deals that increase contract coverage for Diana’s 36-vessel fleet totaling roughly 4.1 million dwt. Investors may monitor future charter fixtures, fleet renewal steps, and macro dry bulk demand as key drivers.

Key Figures

New Maia rate: US$14,000 per day Prior Maia rate: US$11,600 per day Commission: 5.00% +5 more

8 metrics

New Maia rate US$14,000 per day New time charter contract for m/v Maia

Prior Maia rate US$11,600 per day Existing Maia charter before renewal

Commission 5.00% Third-party commission on Maia charter

Maia charter revenue US$7.45 million Expected gross revenue over minimum charter period

Maia dwt 82,193 dwt Carrying capacity of Kamsarmax m/v Maia

Fleet size 36 vessels Current Diana Shipping fleet composition

Fleet capacity 4.1 million dwt Combined carrying capacity excluding two undelivered vessels

Fleet age 12.13 years Weighted average age of current fleet

Historical Context

5 past events · Latest: Dec 19 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Dec 19	Time charter contract	Positive	-2.9%	New Kamsarmax m/v Myrsini charter at higher day rate and multi-year coverage.
Dec 05	Time charter contract	Positive	-1.5%	Capesize m/v P. S. Palios charter with Glencore at US$25,200/day minimum term.
Dec 04	Time charter contracts	Positive	-2.0%	Two Ultramax vessels fixed on multi-year charters, adding US$12.60M minimum revenue.
Nov 24	Acquisition proposal	Positive	+6.0%	Cash proposal to acquire remaining Genco shares at premium valuations.
Nov 21	Charter and asset sale	Positive	+0.0%	New Capesize charter plus agreement to sell Ultramax vessel m/v DSI Drammen.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent time-charter announcements have often seen DSX trade lower in the following session despite contract visibility improving.

Recent Company History

Over the past few months, Diana Shipping has consistently announced new time charters and fleet actions, including Kamsarmax and Capesize contracts and a vessel sale, plus a $20.60/share cash proposal for Genco on Nov 24, 2025. Time-charter news on Dec 4–19, 2025 generated additional contracted revenue but was followed by negative price reactions. Today’s Maia charter continues this focus on locking in multi-year employment at improved rates.

Key Terms

bareboat charter-in, time charter contract, kamsarmax, methanol dual fuel

4 terms

bareboat charter-in financial

"specializing in the ownership and bareboat charter-in of dry bulk vessels"

A "bareboat charter-in" is when a company rents a vessel or asset from another party without any crew or additional services included. The company then takes responsibility for operating and maintaining the asset as if it were their own. For investors, it can signal a company’s strategy to expand its fleet or assets without immediate large capital expenses, potentially affecting its financial position and future cash flows.

time charter contract financial

"it has entered into a time charter contract with Paralos Shipping Pte. Ltd."

A time charter contract is an agreement where a ship owner rents out their vessel to a customer for a set period, during which the customer has control over the ship's use and operation, while the owner remains responsible for maintenance and certain costs. This arrangement matters to investors because it provides predictable income streams and helps assess the financial stability of shipping companies.

kamsarmax technical

"for one of its Kamsarmax dry bulk vessels, the m/v Maia."

A kamsarmax is a standard class of dry bulk cargo ship sized to fit the locks and berths of certain ports, notably those with specific depth and width limits. Think of it like a delivery truck built to just fit a warehouse door: its dimensions and cargo capacity influence which ports it can use and how efficiently it carries grain, coal or ore. For investors, kamsarmaxes matter because their availability, operating costs and suitability for key trade routes affect freight rates, shipping company earnings and supply-chain capacity.

methanol dual fuel technical

"two methanol dual fuel new-building Kamsarmax dry bulk vessels by the second half"

Methanol dual fuel is a type of engine or fuel system that can run on both traditional fuels, like gasoline or diesel, and methanol, a type of alcohol made from natural sources. This flexibility allows for cleaner burning and potentially lower emissions, which can be appealing to industries seeking more sustainable energy options. For investors, understanding methanol dual fuel is important because it signals technological shifts toward alternative, environmentally friendlier energy sources that could influence energy markets and company strategies.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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ATHENS, Greece, Jan. 08, 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 entered into a time charter contract with Paralos Shipping Pte. Ltd., for one of its Kamsarmax dry bulk vessels, the m/v Maia. The gross charter rate is US$14,000 per day, minus a 5.00% commission paid to third parties, for a period until minimum July 5, 2027 up to maximum September 5, 2027. The new charter period is expected to commence on January 13, 2026. The m/v Maia is currently chartered, as previously announced, at a gross charter rate of US$11,600 per day, minus a 5.00% commission paid to third parties.

The “Maia” is an 82,193 dwt Kamsarmax dry bulk vessel built in 2009.

The employment of “Maia” is anticipated to generate a total of approximately US$7.45 million of gross revenue for the minimum scheduled period of the time charter.

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 12.13 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

FAQ

What are the charter dates for Diana Shipping's m/v Maia (NYSE: DSX)?

The charter is expected to commence on January 13, 2026 and runs until a minimum of July 5, 2027 and a maximum of September 5, 2027.

How much will Diana Shipping earn from the m/v Maia time charter (NYSE: DSX)?

The employment is expected to generate approximately US$7.45 million of gross revenue for the minimum scheduled period.

What is the charter rate for the m/v Maia under the new Diana Shipping contract (NYSE: DSX)?

The gross charter rate is US$14,000 per day, subject to a 5.00% commission payable to third parties.

How does the new m/v Maia rate compare to its previous rate for Diana Shipping (NYSE: DSX)?

The vessel was previously chartered at a gross rate of US$11,600 per day (less 5.00% commission), lower than the new US$14,000/day rate.

What is Diana Shipping's fleet size and capacity (NYSE: DSX)?

The company currently operates 36 dry bulk vessels with combined carrying capacity of approximately 4.1 million dwt and a weighted average age of 12.13 years.