Diana Shipping Inc. Announces Time Charter Contract for m/v DSI Altair With Bunge

Rhea-AI Summary

Diana Shipping (NYSE: DSX) announced a time charter with Bunge SA for the Ultramax vessel m/v DSI Altair. The gross rate is US$14,750/day less a 5.00% commission, for a period from about Jan 17, 2026 with minimum employment through Jan 15, 2027 and up to Mar 30, 2027. The minimum scheduled period is expected to generate approximately US$5.30 million of gross revenue. DSI Altair is a 60,309 dwt Ultramax built in 2016. Diana Shipping currently operates 36 dry bulk vessels with combined capacity ~4.1 million dwt and weighted average age 12.14 years, and expects two methanol dual fuel Kamsarmax deliveries in H2 2027 and H1 2028.

Positive

• Time charter secured with Bunge at US$14,750/day
• Estimated US$5.30M gross revenue for minimum charter period
• Charter expected to commence on Jan 17, 2026
• Fleet capacity ~4.1 million dwt provides scale

Negative

• Gross rate subject to a 5.00% third-party commission
• Charter term is limited (min to Jan 15, 2027; max Mar 30, 2027)
• Weighted average fleet age of 12.14 years

News Market Reaction – DSX

-1.08%

1 alert

-1.08% News Effect

On the day this news was published, DSX declined 1.08%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Charter rate: US$14,750 per day Commission: 5.00% Charter gross revenue: US$5.30 million +5 more

8 metrics

Charter rate US$14,750 per day Time charter for m/v DSI Altair with Bunge SA

Commission 5.00% Commission on DSI Altair charter paid to third parties

Charter gross revenue US$5.30 million Minimum scheduled period for DSI Altair time charter

Commencement date January 17, 2026 Expected start of DSI Altair time charter

Vessel size 60,309 dwt Ultramax dry bulk vessel m/v DSI Altair

Fleet size 36 vessels Current Diana Shipping dry bulk fleet

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

Weighted average age 12.14 years Weighted average age of current fleet

Market Reality Check

Price: $2.58 Vol: Volume 524,830 is close t...

normal vol

$2.58 Last Close

Volume Volume 524,830 is close to the 20-day average of 517,668, suggesting typical trading interest ahead of this charter update. normal

Technical Price 1.86 is trading above the 200-day MA at 1.64, indicating a pre-existing upward bias before this news.

Peers on Argus

DSX was up about 1.09% while key peers were mixed: SHIP -3.28%, GASS +0.38%, SMH...

DSX was up about 1.09% while key peers were mixed: SHIP -3.28%, GASS +0.38%, SMHI -4.37%, UFG -2.29%, pointing to a more company-specific tone around DSX’s charter flow.

Historical Context

5 past events · Latest: Jan 08 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 08	Fleet charter update	Positive	+3.4%	Higher-rate continuation charter for m/v Maia into mid-2027.
Dec 19	Fleet charter update	Positive	-2.9%	New time charter for m/v Myrsini at improved Kamsarmax rate.
Dec 05	Fleet charter update	Positive	-1.5%	Capesize m/v P. S. Palios chartered to Glencore at fixed daily rate.
Dec 04	Fleet charter updates	Positive	-2.0%	Two Ultramax vessels fixed on multi-year charters at mid-teens rates.
Nov 24	Acquisition proposal	Positive	+6.0%	Proposal to acquire remaining Genco shares at a premium cash offer.

Pattern Detected

Recent commercial and strategic announcements often drew mixed to negative price reactions, with more divergences than alignments despite seemingly positive fleet news.

Recent Company History

Over the past few months, Diana Shipping focused on steadily deploying its dry bulk fleet via multi-year time charters. Contracts for vessels like m/v Maia, m/v Myrsini, m/v P. S. Palios, and Ultramax ships such as DSI Pollux and DSI Andromeda locked in daily rates and multi-quarter visibility, often targeting minimum periods into 2027. In parallel, the company submitted a proposal on November 24, 2025 to acquire the remaining shares of Genco Shipping & Trading at $20.60 per share. Today’s DSI Altair charter continues this pattern of methodical fleet employment at defined day rates.

Market Pulse Summary

This announcement adds another multi-year employment contract to Diana Shipping’s fleet strategy. Th...

Analysis

This announcement adds another multi-year employment contract to Diana Shipping’s fleet strategy. The Ultramax DSI Altair has been fixed with Bunge at US$14,750/day, expected to generate about US$5.30 million over the minimum period. Together with prior charters and a 36-vessel fleet totaling roughly 4.1 million dwt, the company continues to build contracted coverage while anticipating two methanol dual fuel Kamsarmax deliveries in 2027–2028. Monitoring future charter rates and contract durations remains important.

Key Terms

bareboat charter-in, time charter contract, ultramax, kamsarmax, +1 more

5 terms

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.

time charter contract technical

"it has entered into a time charter contract with Bunge SA, Geneva"

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.

ultramax technical

"one of its Ultramax dry bulk vessels, the m/v DSI Altair"

Ultramax is a term used to describe a product, service, or feature that represents the highest level of performance, quality, or capacity within its category. For investors, recognizing ultramax offerings can signal potential for maximum returns or dominance in the market, much like choosing a top-tier option that stands out for its exceptional features. It indicates a premium or peak position that may influence investment decisions.

kamsarmax technical

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

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"

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. Not financial advice.

ATHENS, Greece, Jan. 12, 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 Bunge SA, Geneva, for one of its Ultramax dry bulk vessels, the m/v DSI Altair. The gross charter rate is US$14,750 per day, minus a 5.00% commission paid to third parties, for a period until minimum January 15, 2027 up to maximum March 30, 2027. The charter is expected to commence on January 17, 2026.

The “DSI Altair” is a 60,309 dwt Ultramax dry bulk vessel built in 2016.

The employment of “DSI Altair” is anticipated to generate a total of approximately US$5.30 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 12.14 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 time charter did Diana Shipping (DSX) announce on Jan 12, 2026?

Diana Shipping announced a time charter of m/v DSI Altair to Bunge at US$14,750/day (less 5% commission), starting ~Jan 17, 2026.

How much revenue will the DSX DSI Altair charter generate for the minimum period?

The employment is expected to generate approximately US$5.30 million of gross revenue for the minimum scheduled period.

What is the duration of the Bunge charter for DSX's DSI Altair?

The charter runs from expected commencement on Jan 17, 2026 with a minimum to Jan 15, 2027 and a maximum to Mar 30, 2027.

What are the key specifications of the m/v DSI Altair in the DSX announcement?

DSI Altair is an Ultramax dry bulk vessel of 60,309 dwt built in 2016.

How large is Diana Shipping's fleet and what deliveries are expected?

Diana Shipping operates 36 dry bulk vessels (~4.1 million dwt combined) and expects two methanol dual fuel Kamsarmax deliveries in H2 2027 and H1 2028.