Diana Shipping Inc. Announces Time Charter Contract for m/v Myrsini With Paralos Shipping

Rhea-AI Summary

Diana Shipping (NYSE: DSX) entered a time charter with Paralos Shipping for the Kamsarmax m/v Myrsini at a gross rate of US$13,500/day minus a 5.00% commission, for a period from expected commencement January 1, 2026 to a minimum of December 20, 2026 and a maximum of February 20, 2027. The employment is expected to generate approximately US$4.71 million of gross revenue for the minimum period. The Myrsini is an 82,117 dwt Kamsarmax built in 2010 and was previously chartered at US$13,000/day minus 4.75% commission. Diana Shipping's fleet totals 36 vessels with combined capacity ~4.1 million dwt and weighted average age 12.07 years, excluding two newbuild Kamsarmax deliveries in 2H 2027 and 1H 2028.

Positive

• Gross charter rate of US$13,500/day for m/v Myrsini
• Expected US$4.71 million gross revenue for minimum charter period
• Fleet size of 36 vessels and combined capacity ~4.1 million dwt

Negative

• Charter pays a 5.00% commission, slightly higher than prior 4.75%
• Contract is short-term (minimum to Dec 20, 2026, max Feb 20, 2027) limiting long-term revenue visibility

Key Figures

New charter rate US$13,500 per day Time charter for m/v Myrsini with Paralos Shipping

Commission on new charter 5.00% commission Deducted from gross charter rate to third parties

Current charter rate US$13,000 per day Existing Cargill charter for m/v Myrsini

Expected gross revenue US$4.71 million Minimum scheduled period of new Myrsini time charter

Vessel size 82,117 dwt Kamsarmax bulk vessel m/v Myrsini built in 2010

Fleet size 36 dry bulk vessels Company fleet composition at announcement date

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

Weighted average age 12.07 years Weighted average age of current fleet

Market Reality Check

$1.84 Last Close

Volume Volume 166,066 is below the 20-day average of 538,139, suggesting limited pre-news activity. low

Technical Shares at 1.72 are trading above the 200-day MA of 1.64 and about 15.48% below the 52-week high.

Peers on Argus

DSX was up about 0.58% while key marine peers like SHIP (-1.44%), GASS (-0.58%), SMHI (-4.17%), and UFG (-2.21%) were down, indicating stock-specific strength rather than a sector-wide move.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 05	Time charter contract	Positive	-1.5%	New Capesize charter for m/v P. S. Palios at US$25,200/day.
Dec 04	Time charter contracts	Positive	-2.0%	Two Ultramax charters for DSI Pollux and DSI Andromeda at mid-US$14k/day.
Nov 24	Acquisition proposal	Positive	+6.0%	Cash proposal to acquire remaining Genco shares at premium prices.
Nov 21	Charter and vessel sale	Positive	+0.0%	Seattle Capesize charter plus sale of Ultramax m/v DSI Drammen.
Nov 20	Earnings and dividend	Positive	-4.5%	Q3 2025 profit growth and $0.01 cash dividend declaration.

Pattern Detected

Recent charter and operational announcements often saw flat to negative next-day moves, while the acquisition proposal drew a stronger positive reaction.

Recent Company History

Over the past month, Diana Shipping announced multiple time charters and a vessel sale, each adding contracted revenue across Capesize and Ultramax vessels, yet 24-hour price reactions ranged from flat to modest declines. A proposal on Nov 24, 2025 to acquire remaining Genco shares at $20.60 per share saw a 5.95% gain. Q3 2025 results showed net income of $7.2M and EPS of $0.05, but the stock fell 4.55%. Today’s Myrsini charter extends this pattern of fleet employment updates.

Market Pulse Summary

This announcement extends Diana Shipping’s fleet employment with a new time charter for the 82,117 dwt Kamsarmax m/v Myrsini at US$13,500 per day, expected to generate about US$4.71 million in gross revenue over the minimum period. It builds on a series of recent charter deals that increase contracted coverage across the company’s 36-vessel, roughly 4.1 million dwt fleet. Investors may monitor future charter rates, utilization, and additional fleet transactions to gauge earnings visibility and asset deployment efficiency.

Key Terms

time charter technical

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

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.

kamsarmax technical

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

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.

dual fuel technical

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

Dual fuel describes equipment, vehicles, or facilities that can run on two different types of fuel (for example, natural gas and diesel), switching between them as prices, availability, or regulations change. For investors, dual-fuel capability is like owning a hybrid car: it provides operational flexibility that can lower operating costs, reduce downtime during supply disruptions, and lessen exposure to a single fuel’s price swings or regulatory limits, which can affect profitability and risk.

AI-generated analysis. Not financial advice.

ATHENS, Greece, Dec. 19, 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 Paralos Shipping Pte. Ltd., for one of its Kamsarmax dry bulk vessels, the m/v Myrsini. The gross charter rate is US$13,500 per day, minus a 5.00% commission paid to third parties, for a period until minimum December 20, 2026 up to maximum February 20, 2027. The charter is expected to commence on January 1, 2026. The m/v Myrsini is currently chartered, as previously announced, to Cargill International SA, Geneva, at a gross charter rate of US$13,000 per day, minus a 4.75% commission paid to third parties.

The “Myrsini” is an 82,117 dwt Kamsarmax bulk vessel built in 2010.

The employment of “Myrsini” is anticipated to generate a total of approximately US$4.71 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 12.07 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 financial terms of Diana Shipping's (DSX) charter for m/v Myrsini?

The charter is at a gross US$13,500/day minus 5.00% commission, expected to start Jan 1, 2026.

How much revenue will DSX generate from the Myrsini charter through December 20, 2026?

Diana Shipping expects approximately US$4.71 million of gross revenue for the minimum scheduled period.

How does the new Myrsini rate compare to its prior charter for DSX (m/v Myrsini)?

The new gross rate is US$13,500/day versus the prior US$13,000/day; net-of-commission implied rates rise modestly.

When will the Myrsini charter with Paralos commence and when does it end for DSX?

The charter is expected to commence on January 1, 2026 and runs until a minimum of December 20, 2026 and a maximum of February 20, 2027.

What is the size and age profile of Diana Shipping's fleet (DSX) after this announcement?

Diana Shipping reports a fleet of 36 dry bulk vessels, combined capacity ~4.1 million dwt, weighted average age 12.07 years (excludes two not-yet-delivered vessels).