Diana Shipping Inc. Announces Direct Continuation of Time Charter Contract for m/v Amphitrite

Diana Shipping (NYSE: DSX) extended the time charter of the Post-Panamax m/v Amphitrite with Cobelfret S.A.

Rhea-AI Summary

Diana Shipping (NYSE: DSX) extended the time charter of the Post-Panamax m/v Amphitrite with Cobelfret S.A. The charter starts February 8, 2026 and runs until a minimum of March 1, 2027 and a maximum of April 30, 2027.

The gross rate is US$13,000/day for the first 30 days and US$16,500/day thereafter, each minus a 5.00% commission. The extension is expected to generate approximately US$6.15 million of gross revenue for the minimum period. Amphitrite is a 98,697 dwt vessel built in 2012. Diana Shipping's fleet totals 36 dry bulk vessels with combined capacity ~4.1 million dwt and weighted average age 12.19 years. Two methanol dual fuel Kamsarmax newbuilds are scheduled for delivery in H2 2027 and H1 2028.

Positive

• Charter extension secures m/v Amphitrite employment through at least Mar 1, 2027
• Higher contracted rates of US$16,500/day for the main charter period
• Expected gross revenue of approximately US$6.15 million for the minimum period
• Fleet expansion: two methanol dual fuel Kamsarmax newbuilds expected by H2 2027 and H1 2028

Negative

• Charter term is time-limited (minimum to Mar 1, 2027, maximum to Apr 30, 2027)
• Gross rates are subject to a 5.00% commission to third parties, reducing net revenue

Argus Feb 2 session

-2.16% close to close Open Argus

Details

News Market Reaction – DSX

On Feb 2, the day this news came out, DSX closed 2.16% below the previous close.

Data tracked by StockTitan Argus for the Feb 2 session.

Market Context

This announcement extends employment for the Post‑Panamax m/v Amphitrite at higher rates than the pr...

Analysis

This announcement extends employment for the Post‑Panamax m/v Amphitrite at higher rates than the prior US$12,100/day charter, with initial hire of US$13,000/day and then US$16,500/day. The minimum term is expected to generate about US$6.15 million in gross revenue, adding to visibility across a fleet of 36 vessels and roughly 4.1 million dwt of capacity. Investors may track further charter renewals and the scheduled methanol dual‑fuel newbuild deliveries.

Key Figures

New charter rate (initial): US$13,000 per day New charter rate (thereafter): US$16,500 per day Current charter rate: US$12,100 per day +5 more

New charter rate (initial)

US$13,000 per day

First 30 days of m/v Amphitrite time charter

New charter rate (thereafter)

US$16,500 per day

Balance of m/v Amphitrite charter period

Current charter rate

US$12,100 per day

Existing m/v Amphitrite charter prior to extension

Commission

5.00%

Commission on charter hire paid to third parties

Expected gross revenue

US$6.15 million

Minimum scheduled period of new Amphitrite charter

Vessel deadweight

98,697 dwt

Capacity of Post-Panamax m/v Amphitrite

Fleet size

36 dry bulk vessels

Total operating fleet at announcement date

Fleet capacity

approximately 4.1 million dwt

Combined carrying capacity, excluding two undelivered vessels

Historical Context

5 past events · Latest: Jan 16

5 events

1. Jan 16

   GNK bid escalation

   24h Move

   -1.9%

   Nominated GNK directors and outlined all-cash proposal to acquire remaining shares.

2. Jan 13

   GNK response

   24h Move

   -0.5%

   GNK board rejected Diana’s non-binding acquisition proposal despite financing support.

3. Jan 12

   Charter m/v DSI Altair

   24h Move

   -1.1%

   Secured Ultramax charter with Bunge at fixed day rate and multi‑year term.

4. Jan 08

   Charter m/v Maia

   24h Move

   +3.4%

   Extended Kamsarmax charter at higher day rate, boosting expected gross revenue.

5. Dec 19

   Charter m/v Myrsini

   24h Move

   -2.9%

   New Kamsarmax charter with Paralos Shipping at attractive multi‑year rate.

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

Key Terms

time charter, bareboat charter-in, post-panamax, methanol dual fuel

4 terms

time charter technical

"it has extended the time charter contract with Cobelfret S.A., Luxembourg"

A time charter 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. This arrangement matters to investors because it provides a steady income stream for the ship owner and indicates ongoing demand for shipping services, reflecting the health of global trade and transportation markets.

bareboat charter-in technical

"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.

post-panamax technical

"for one of its Post-Panamax dry bulk vessels, the m/v Amphitrite"

Post-panamax describes a ship or vessel that is too large to pass through the original locks of the Panama Canal, meaning its width, height, or depth exceeds those historic limits; it’s used as a size class for very large cargo ships. Investors care because these ships face route restrictions, higher port and handling requirements, or transshipment detours—like a truck that can’t fit under a bridge—which affects shipping costs, transit times, freight rates and demand for port and fleet upgrades.

methanol dual fuel technical

"two methanol dual fuel new-building Kamsarmax dry bulk vessels"

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.

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ATHENS, Greece, Feb. 02, 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 Cobelfret S.A., Luxembourg, for one of its Post-Panamax dry bulk vessels, the m/v Amphitrite. The gross charter rate is US$13,000 per day for the first thirty (30) days of the charter period and US$16,500 per day for the balance period of the time charter, in each case minus a 5.00% commission paid to third parties, for a period until minimum March 1, 2027 up to maximum April 30, 2027. The new charter period is expected to commence on February 8, 2026. The m/v Amphitrite is currently chartered, as previously announced, at a gross charter rate of US$12,100 per day, minus a 5.00% commission paid to third parties.

The “Amphitrite” is a 98,697 dwt Post-Panamax dry bulk vessel built in 2012.

The employment extension of “Amphitrite” is anticipated to generate approximately US$6.15 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 12.19 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

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Diana Shipping (DSX) announce about the m/v Amphitrite time charter on February 2, 2026?

They announced a direct continuation of the Amphitrite time charter with Cobelfret, commencing February 8, 2026 and running to at least March 1, 2027. According to the company, the charter carries tiered gross rates and is expected to generate roughly US$6.15 million for the minimum period.

What are the gross charter rates and commissions for DSX's Amphitrite time charter extension?

The gross rate is US$13,000/day for the first 30 days and US$16,500/day thereafter, each minus a 5.00% commission. According to the company, those rates replace the prior US$12,100/day charter rate for Amphitrite.

When does the Amphitrite charter extension for DSX start and what is the duration window?

The new employment is expected to commence on February 8, 2026 and runs to a minimum of March 1, 2027 and a maximum of April 30, 2027. According to the company, the dates define the minimum and maximum charter period.

How much revenue will the Amphitrite extension generate for Diana Shipping (DSX)?

The company anticipates approximately US$6.15 million of gross revenue for the minimum scheduled period of the time charter. According to the company, that figure reflects gross revenue before the 5.00% commission deduction.

How does the Amphitrite announcement affect Diana Shipping's fleet capacity and newbuild plans?

The announcement leaves the fleet at 36 dry bulk vessels with combined capacity around 4.1 million dwt and weighted average age 12.19 years. According to the company, two methanol dual fuel Kamsarmax newbuilds are expected in H2 2027 and H1 2028.