Diana Shipping Inc. Announces Time Charter Contract for m/v Los Angeles with MOL and Direct Continuation of Time Charter Contract for m/v DSI Aquarius with Bunge
Rhea-AI Summary
Diana Shipping (NYSE: DSX) entered a time charter with MOL Ocean Bulk for the Newcastlemax m/v Los Angeles at a gross rate of US$24,000 per day (less 5% commission), commencing Nov 1, 2025 and running from minimum Sep 10, 2026 to maximum Nov 1, 2026. The company also extended a time charter with Bunge for the Ultramax m/v DSI Aquarius at a gross rate of US$14,500 per day (less 5% commission), expected to commence Nov 8, 2025 and run from minimum Nov 1, 2026 to maximum Dec 31, 2026.
The two employments are expected to generate approximately US$12.55 million of gross revenue for the minimum scheduled period. Diana Shipping’s fleet totals 36 dry bulk vessels with combined carrying capacity of ~4.1 million dwt and a weighted average age of 11.94 years. The company expects delivery of two methanol dual fuel Kamsarmax newbuilds by 2H 2027 and 1H 2028.
Positive
- Gross charter rate of US$24,000/day for m/v Los Angeles
- Gross charter rate of US$14,500/day for m/v DSI Aquarius
- Anticipated US$12.55 million gross revenue for minimum charter periods
- Fleet of 36 dry bulk vessels and ~4.1 million dwt capacity
Negative
- 5% commission on gross charter rates reduces net revenue
- Charters are short-term with fixed end windows (max Nov 1, 2026 and Dec 31, 2026)
- Weighted average fleet age of 11.94 years
News Market Reaction 1 Alert
On the day this news was published, DSX declined 2.29%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
ATHENS, Greece, Nov. 03, 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 MOL Ocean Bulk Pte. Ltd., Singapore, for one of its Newcastlemax dry bulk vessels, the m/v Los Angeles. The gross charter rate is US
The “Los Angeles” is a 206,104 dwt Newcastlemax bulk vessel built in 2012.
The Company also announced that, through a separate wholly-owned subsidiary, it has extended the time charter contract with Bunge SA, Geneva, for one of its Ultramax dry bulk vessels, the m/v DSI Aquarius. The gross charter rate is US
The “DSI Aquarius” is a 60,309 dwt Ultramax bulk vessel built in 2016.
The employments of “Los Angeles” and “DSI Aquarius” are anticipated to generate a total of 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 11.94 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
FAQ
What are the charter rates for Diana Shipping's m/v Los Angeles (DSX) announced Nov 3, 2025?
When does the time charter for m/v DSI Aquarius (DSX) begin and what is the rate?
How much gross revenue will the two Diana Shipping charters generate for the minimum period?
What are the contract end windows for the new Diana Shipping charters (DSX)?
How large is Diana Shipping’s fleet and what is its carrying capacity as of Nov 3, 2025?
When does Diana Shipping expect delivery of its two methanol dual fuel Kamsarmax newbuilds?
