Diana Shipping Inc. Announces Time Charter Contract for m/v DSI Polaris With Cargill Ocean Transportation
Diana Shipping (NYSE:DSX) has secured a time charter contract with Cargill Ocean Transportation for its Ultramax dry bulk vessel, m/v DSI Polaris. The contract specifies a gross charter rate of $12,250 (minus 4.75% third-party commission) for a period from July 1, 2025, until minimum July 21, 2026, up to maximum September 21, 2026.
The charter is expected to generate approximately $4.66 million in gross revenue for the minimum scheduled period. Following the sale of m/v Selina, Diana's fleet will comprise 36 dry bulk vessels with a combined carrying capacity of 4.1 million dwt. The company also anticipates delivery of two methanol dual fuel Kamsarmax vessels by 2028.
Diana Shipping (NYSE:DSX) ha ottenuto un contratto di nolo a tempo con Cargill Ocean Transportation per la sua nave Ultramax per il trasporto di merci secche, m/v DSI Polaris. Il contratto prevede un canone lordo di nolo di 12.250 dollari (meno una commissione del 4,75% a terzi) per un periodo che va dal 1° luglio 2025, fino almeno al 21 luglio 2026, con possibilità di estensione fino al 21 settembre 2026.
Il nolo dovrebbe generare circa 4,66 milioni di dollari di ricavi lordi per il periodo minimo previsto. Dopo la vendita della m/v Selina, la flotta di Diana sarà composta da 36 navi per merci secche con una capacità totale di carico di 4,1 milioni di tonnellate di portata lorda (dwt). La società prevede inoltre la consegna di due navi Kamsarmax a doppia alimentazione metanolo entro il 2028.
Diana Shipping (NYSE:DSX) ha asegurado un contrato de fletamento por tiempo con Cargill Ocean Transportation para su buque Ultramax de carga seca, m/v DSI Polaris. El contrato establece una tarifa bruta de fletamento de 12.250 dólares (menos una comisión del 4,75% a terceros) para un periodo desde el 1 de julio de 2025, hasta al menos el 21 de julio de 2026, con un máximo hasta el 21 de septiembre de 2026.
Se espera que el fletamento genere aproximadamente 4,66 millones de dólares en ingresos brutos durante el periodo mínimo programado. Tras la venta del m/v Selina, la flota de Diana constará de 36 buques de carga seca con una capacidad combinada de 4,1 millones de dwt. La compañía también anticipa la entrega de dos buques Kamsarmax de combustible dual de metanol para 2028.
Diana Shipping (NYSE:DSX)는 Cargill Ocean Transportation와 초대형 건화물선 Ultramax인 m/v DSI Polaris에 대한 기간 용선 계약을 체결했습니다. 계약 조건은 2025년 7월 1일부터 최소 2026년 7월 21일까지, 최대 2026년 9월 21일까지 총 용선료 12,250달러 (제3자 수수료 4.75% 차감)입니다.
이 용선 계약은 최소 기간 동안 약 466만 달러의 총 수익을 창출할 것으로 예상됩니다. m/v Selina 매각 이후 다이애나의 선대는 총 410만 dwt의 적재 용량을 가진 36척의 건화물선으로 구성될 예정입니다. 또한 회사는 2028년까지 메탄올 이중 연료 Kamsarmax 선박 2척의 인도를 기대하고 있습니다.
Diana Shipping (NYSE:DSX) a conclu un contrat d'affrètement à temps avec Cargill Ocean Transportation pour son navire Ultramax de vrac sec, le m/v DSI Polaris. Le contrat prévoit un taux d'affrètement brut de 12 250 $ (moins une commission tierce de 4,75 %) pour une période allant du 1er juillet 2025 au minimum jusqu'au 21 juillet 2026, et au maximum jusqu'au 21 septembre 2026.
L'affrètement devrait générer environ 4,66 millions de dollars de revenus bruts pour la période minimale prévue. Suite à la vente du m/v Selina, la flotte de Diana comprendra 36 navires de vrac sec d'une capacité totale de 4,1 millions de tpl. La société prévoit également la livraison de deux navires Kamsarmax à double carburant méthanol d'ici 2028.
Diana Shipping (NYSE:DSX) hat einen Zeitchartervertrag mit Cargill Ocean Transportation für sein Ultramax-Trockenmassengutfrachtschiff m/v DSI Polaris abgeschlossen. Der Vertrag sieht eine brutto Charterrate von 12.250 USD (abzüglich 4,75% Drittprovision) für den Zeitraum vom 1. Juli 2025 bis mindestens 21. Juli 2026, maximal bis 21. September 2026 vor.
Der Chartervertrag wird voraussichtlich etwa 4,66 Millionen USD Bruttoeinnahmen für den Mindestzeitraum generieren. Nach dem Verkauf der m/v Selina wird die Flotte von Diana aus 36 Trockenmassengutfrachtern mit einer Gesamtkapazität von 4,1 Millionen dwt bestehen. Das Unternehmen erwartet zudem die Lieferung von zwei methanolbetriebenen Dual-Fuel-Kamsarmax-Schiffen bis 2028.
- Secured new time charter contract generating $4.66 million minimum gross revenue
- Fleet modernization with two methanol dual fuel vessels expected by 2028
- Substantial fleet of 36 vessels with 4.1 million dwt carrying capacity
- Aging fleet with weighted average age of 11.65 years
- Relatively low charter rate of $12,250 per day
ATHENS, Greece, June 26, 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 entered into a time charter contract with Cargill Ocean Transportation (Singapore) Pte. Ltd., for one of its Ultramax dry bulk vessels, the m/v DSI Polaris. The gross charter rate is US
The “DSI Polaris” is a 60,404 dwt Ultramax dry bulk vessel built in 2018.
The employment of “DSI Polaris” is anticipated to generate approximately US
Upon completion of the previously announced sale of m/v Selina, Diana Shipping Inc.’s fleet will consist 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, including the m/v Selina and excluding the two vessels not yet delivered, is approximately 4.1 million dwt, with a weighted average age of 11.65 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
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