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Higher-rate Ismene charter lifts Diana Shipping (NYSE: DSX) contracted revenue

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(Neutral)
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Form Type
6-K

Rhea-AI Filing Summary

Diana Shipping Inc. has fixed its Panamax dry bulk vessel m/v Ismene on a new time charter with Paralos Shipping Pte. Ltd. at a gross rate of US$15,750 per day, minus a 5.00% commission to third parties. The charter is expected to start on July 05, 2026 and run until at least May 15, 2027, with an optional extension to July 15, 2027.

Ismene, a 77,901 dwt vessel built in 2013, is currently on charter to CRC Shipping Pte. Ltd. at a lower gross rate of US$11,000 per day. The new employment is anticipated to generate approximately US$4.88 million of gross revenue for the minimum scheduled period. Diana Shipping’s fleet totals 36 dry bulk vessels with about 4.1 million dwt of carrying capacity and a weighted average age of 12.58 years.

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New charter rate US$15,750 per day Gross rate for Ismene with Paralos Shipping
Commission on charter 5.00% Commission paid to third parties on charter hire
Current charter rate US$11,000 per day Existing gross rate with CRC Shipping for Ismene
Expected gross revenue US$4.88 million Minimum scheduled period of new Ismene charter
Ismene vessel size 77,901 dwt Panamax dry bulk vessel built in 2013
Fleet size 36 vessels Diana Shipping dry bulk fleet count
Fleet carrying capacity 4.1 million dwt Combined capacity excluding two undelivered vessels
Fleet average age 12.58 years Weighted average age of current fleet
time charter contract financial
"it has entered into a time charter contract with Paralos Shipping 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.
Panamax dry bulk vessel financial
"for one of its Panamax dry bulk vessels, the m/v Ismene."
dwt financial
"The “Ismene” is a 77,901 dwt Panamax dry bulk vessel built in 2013."
bareboat charter-in financial
"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.
forward-looking statements regulatory
"Matters discussed in this press release may constitute forward-looking statements."
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
safe harbor protections regulatory
"The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements"

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FAQ

What charter agreement did Diana Shipping Inc. (DSX) announce for m/v Ismene?
Diana Shipping entered a time charter for m/v Ismene with Paralos Shipping Pte. Ltd. at a gross rate of US$15,750 per day. The contract runs from July 05, 2026 until at least May 15, 2027, with an option to extend to July 15, 2027.

How does the new Ismene charter rate compare to the current Diana Shipping (DSX) rate?
The new charter rate for Ismene is US$15,750 per day, compared with the current US$11,000 per day with CRC Shipping. Both rates are before a 5.00% commission to third parties, indicating a higher contracted daily income for the vessel.

How much revenue is Ismene expected to generate under the new Diana Shipping (DSX) charter?
The Ismene charter is anticipated to generate approximately US$4.88 million of gross revenue over the minimum scheduled period. This estimate reflects the agreed daily charter rate and minimum charter duration, before deducting the 5.00% commission to third parties.

What is the size and age profile of Diana Shipping Inc.’s (DSX) fleet?
Diana Shipping operates 36 dry bulk vessels across several segments, with combined carrying capacity of about 4.1 million dwt. The fleet has a weighted average age of 12.58 years, excluding two methanol dual fuel Kamsarmax newbuildings expected by 2027–2028.

What type of vessel is m/v Ismene in the Diana Shipping (DSX) fleet?
Ismene is a 77,901 dwt Panamax dry bulk vessel built in 2013. It is part of Diana Shipping’s Panamax segment, which supports the company’s global dry bulk transportation services under primarily short to medium-term time charter contracts.

Does Diana Shipping (DSX) plan to expand its fleet after this Ismene charter?
Beyond the Ismene charter, Diana Shipping expects delivery of two methanol dual fuel Kamsarmax new-building dry bulk vessels. These deliveries are scheduled for the second half of 2027 and the first half of 2028, adding to the company’s existing 36-vessel fleet.

FORM 6-K

 

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16

OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of June 2026

Commission File Number: 001-32458

 

DIANA SHIPPING INC.

(Translation of registrant's name into English)

Pendelis 16, 175 64 Palaio Faliro, Athens, Greece

(Address of principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F [X] Form 40-F [ ]

 

 

 

 

 

 
 

 

 

INFORMATION CONTAINED IN THIS FORM 6-K REPORT

 

Attached to this Report on Form 6-K as Exhibit 99.1 is a press release dated June 24, 2026, of Diana Shipping Inc. (the "Company"), announcing that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Paralos Shipping Pte. Ltd., for one of its Panamax dry bulk vessels, the m/v Ismene.

 

The information contained in this Report on Form 6-K is hereby incorporated by reference into the Company's registration statements on Form F-3 (File Nos. 333-266999 and 333-280693) that were filed with the U.S. Securities and Exchange Commission and became effective on September 16, 2022, and September 9, 2024, respectively.








 
 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

       
  DIANA SHIPPING INC.  
  (registrant)  
     
     
Dated: June 24, 2026 By: /s/ Margarita Veniou  
    Margarita Veniou  
    Secretary  

 

 

 

 

Exhibit 99.1

 

  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

 

DIANA SHIPPING INC. ANNOUNCES TIME CHARTER CONTRACT

FOR M/V ISMENE WITH PARALOS SHIPPING

 

ATHENS, GREECE, June 24, 2026 – 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 Panamax dry bulk vessels, the m/v Ismene. The gross charter rate is US$15,750 per day, minus a 5.00% commission paid to third parties, for a period until minimum May 15, 2027 up to maximum July 15, 2027. The charter is expected to commence on July 05, 2026. The m/v Ismene is currently chartered, as previously announced, to CRC Shipping Pte. Ltd., at a gross charter rate of US$11,000 per day, minus a 5.00% commission paid to third parties.

 

The “Ismene” is a 77,901 dwt Panamax dry bulk vessel built in 2013.

 

The employment of “Ismene” is anticipated to generate a total of approximately US$4.88 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 12.58 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.

 

 

Source: View Original Filing on SEC EDGAR

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