Diana Shipping Inc. Announces Time Charter Contract for M/V P. S. Palios with Glencore

Rhea-AI Summary

Diana Shipping (NYSE: DSX) entered a time charter with Glencore Freight Pte. Ltd. for the Capesize m/v P. S. Palios, a 179,134 dwt vessel built in 2013.

The gross charter rate is US$25,200 per day less a 5.00% commission, for a period from expected commencement on Dec 14, 2025 until a minimum of Nov 15, 2026 and a maximum of Jan 15, 2027. The minimum scheduled period is expected to generate approximately US$8.34 million of gross revenue.

As of Dec 5, 2025 the company reports a fleet of 36 dry bulk vessels and combined carrying capacity of ~4.1 million dwt (weighted average age 12.03 years); two methanol dual fuel Kamsarmax newbuilds are expected by H2 2027 and H1 2028.

Positive

• Gross charter rate of US$25,200/day
• Minimum scheduled charter revenue of US$8.34 million
• Fleet size of 36 dry bulk vessels and ~4.1 million dwt capacity
• Two methanol dual fuel Kamsarmax deliveries expected by H2 2027 and H1 2028

Negative

• Brokerage/third-party commission of 5.00% reduces net charter revenue
• Charter term is limited (min to max: Nov 15, 2026–Jan 15, 2027), implying short-duration revenue

Key Figures

Charter rate US$25,200 per day Time charter for m/v P. S. Palios with Glencore Freight

Commission 5.00% Commission on gross charter rate paid to third parties

Charter revenue US$8.34 million Anticipated gross revenue for minimum scheduled charter period

Vessel size 179,134 dwt Capacity of Capesize bulk vessel m/v P. S. Palios

Fleet size 36 vessels Total dry bulk vessels currently in Diana Shipping’s fleet

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

Fleet age 12.03 years Weighted average age of current fleet

Newbuild delivery windows H2 2027 and H1 2028 Expected delivery of two methanol dual fuel Kamsarmax vessels

Market Reality Check

$1.96 Last Close

Volume Volume 672,217 is 34% above the 20-day average of 501,328. normal

Technical Price 1.96 is trading above the 200-day MA at 1.64, and 3.69% below the 52-week high of 2.035.

Peers on Argus 1 Up

DSX was down 2% with above-average volume while key peers like SHIP, GASS, SMHI, and UFG were modestly negative (e.g., SHIP -3.6%, UFG -4.14%). Momentum data flagged TORO up 26.89% without news, suggesting stock-specific activity rather than a broad marine shipping move.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Nov 24	Acquisition proposal	Positive	+6.0%	Proposal to acquire remaining Genco shares at premium cash offer.
Nov 21	Charter and asset sale	Neutral	+0.0%	New Capesize charter for m/v Seattle and sale of m/v DSI Drammen.
Nov 20	Earnings and dividend	Positive	-4.5%	Improved Q3 earnings and declaration of cash dividend per share.
Nov 17	Charter and sale change	Neutral	-0.6%	New charter for m/v Electra and termination of Drammen sale agreement.
Nov 11	Results announcement date	Neutral	-0.6%	Scheduling of Q3 2025 results release and conference call details.

Pattern Detected

Recent news has often seen muted or negative price reactions, even when fundamentals or commercial activity appeared constructive.

Recent Company History

Over the last month, Diana Shipping has focused on commercial employment and corporate initiatives. On Nov 24, 2025, it proposed acquiring remaining Genco shares, with DSX rising 5.95%. Multiple time charter announcements for vessels like m/v Seattle and Electra, along with a now-terminated vessel sale, reflected active fleet management but drove limited or negative moves. Q3 2025 results showed higher net income and a $0.01 dividend, yet shares fell 4.55%. Today’s new Capesize charter continues this pattern of steady contract wins against a cautious trading backdrop.

Market Pulse Summary

This announcement adds another long-duration charter to Diana Shipping’s contracted revenue base. The m/v P. S. Palios Capesize vessel is fixed at US$25,200 per day, with the minimum period expected to generate about US$8.34 million of gross revenue. Within a 36-vessel fleet totaling roughly 4.1 million dwt, this continues a stream of time-charter updates in recent weeks. Investors may track future disclosures on additional fixtures, fleet renewal, and how these contracts aggregate into overall earnings performance.

Key Terms

time charter contract technical

"it has entered into a time charter contract with Glencore Freight Pte. Ltd."

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.

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.

ultramax technical

"5 Panamax and 9 Ultramax"

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.

AI-generated analysis. Not financial advice.

ATHENS, Greece, Dec. 05, 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 Glencore Freight Pte. Ltd., for one of its Capesize dry bulk vessels, the m/v P. S. Palios. The gross charter rate is US$25,200, minus a 5.00% commission paid to third parties, for a period until minimum November 15, 2026 up to maximum January 15, 2027. The charter is expected to commence on December 14, 2025.

The “P. S. Palios” is a 179,134 dwt Capesize bulk vessel built in 2013.

The employment of “P. S. Palios” is anticipated to generate a total of approximately US$8.34 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 12.03 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 terms of Diana Shipping's time charter for m/v P. S. Palios (DSX)?

The charter starts expected Dec 14, 2025 at a gross rate of US$25,200/day minus 5.00% commission, through minimum Nov 15, 2026 up to maximum Jan 15, 2027.

How much revenue will the P. S. Palios charter generate for Diana Shipping (DSX)?

The company estimates approximately US$8.34 million of gross revenue for the minimum scheduled charter period.

When will the P. S. Palios time charter with Glencore commence for DSX?

The charter is expected to commence on December 14, 2025.

What is Diana Shipping's fleet size and capacity as of Dec 5, 2025 (DSX)?

The fleet consists of 36 dry bulk vessels with combined carrying capacity of approximately 4.1 million dwt and weighted average age 12.03 years.

Does Diana Shipping (DSX) have newbuild deliveries scheduled after 2025?

Yes, two methanol dual fuel Kamsarmax newbuilds are expected by H2 2027 and H1 2028.