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Diana Shipping inks $18,000/day charter for DSI Polaris

Diana Shipping secures a multi‑year time charter for DSI Polaris at a higher day rate, adding about US$10.37 million of contracted revenue over the minimum term.

(Neutral)
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

Diana Shipping Inc. (DSX) entered into a new time charter contract, through a wholly owned subsidiary, for its Ultramax dry bulk vessel m/v DSI Polaris with Dai An Ocean Shipping Company Limited. The vessel will earn a gross rate of US$18,000 per day, minus a 5.00% commission, for a period running until minimum May 1, 2028 and up to maximum June 30, 2028, with the charter expected to commence on September 25, 2026.

The DSI Polaris, a 60,404 dwt Ultramax built in 2018, is currently on charter to Cargill Ocean Transportation at US$12,250 per day, minus a 4.75% commission. The new employment is anticipated to generate about US$10.37 million in gross revenue over the minimum charter term. Diana Shipping’s fleet consists of 36 dry bulk vessels totaling approximately 4.1 million dwt, with a weighted average age of 12.83 years, and it expects delivery of two methanol dual fuel Kamsarmax newbuildings by the second half of 2027 and first half of 2028.

Positive

  • DSI Polaris fixed at US$18,000/day versus its current US$12,250/day charter, locking in a higher rate and approximately US$10.37 million of gross revenue over the minimum period.

Negative

  • None.

Filing Explained

As a Form 6-K, this filing furnishes interim information; its charter-contract disclosure is incorporated by reference into two Form F-3 registration statements that the filing says became effective previously. The added structural consequence is that this disclosure becomes part of those registration statements.

New charter rate for DSI Polaris US$18,000 per day (gross) Time charter with Dai An Ocean Shipping Company Limited, minus 5.00% commission
Current charter rate for DSI Polaris US$12,250 per day (gross) Existing charter with Cargill Ocean Transportation, minus 4.75% commission
Expected gross revenue from new charter US$10.37 million Minimum scheduled period of the new time charter for DSI Polaris
DSI Polaris deadweight tonnage 60,404 dwt Ultramax dry bulk vessel built in 2018
Fleet size 36 vessels Diana Shipping dry bulk fleet across multiple vessel classes
Fleet carrying capacity Approximately 4.1 million dwt Combined capacity excluding two undelivered vessels
Weighted average fleet age 12.83 years As of the announcement date, excluding two vessels not yet delivered
New charter commencement date September 25, 2026 Expected start of the new time charter for DSI Polaris
time charter financial
"it has entered into a time charter contract with Dai An Ocean Shipping"
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 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.
deadweight tonnage technical
"The “DSI Polaris” is a 60,404 dwt Ultramax dry bulk vessel"
weighted average age financial
"with a weighted average age of 12.83 years"
forward-looking statements regulatory
"Cautionary Statement Regarding Forward-Looking Statements Matters discussed"
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.
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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What time charter did Diana Shipping Inc. (DSX) announce for the m/v DSI Polaris?

Diana Shipping entered into a time charter for m/v DSI Polaris with Dai An Ocean Shipping at a gross rate of US$18,000 per day, minus a 5.00% commission, from September 25, 2026, until minimum May 1, 2028 and up to maximum June 30, 2028.

How much revenue is the new DSI Polaris charter expected to generate for DSX?

The employment of DSI Polaris under the new time charter is anticipated to generate approximately US$10.37 million of gross revenue for the minimum scheduled period ending May 1, 2028.

How does the new DSI Polaris charter rate compare to the current rate for DSX?

The new charter rate is US$18,000 per day gross, minus a 5.00% commission. The vessel is currently chartered to Cargill Ocean Transportation at US$12,250 per day gross, minus a 4.75% commission.

What are the key specifications of the m/v DSI Polaris owned by DSX?

The DSI Polaris is a 60,404 dwt Ultramax dry bulk vessel built in 2018. It is one of Diana Shipping Inc.’s Ultramax vessels employed on time charter to transport dry bulk commodities.

What is the current fleet size and capacity of Diana Shipping Inc. (DSX)?

Diana Shipping’s fleet consists of 36 dry bulk vessels totaling about 4.1 million dwt, with a weighted average age of 12.83 years, excluding two methanol dual fuel Kamsarmax newbuildings expected by 2027–2028.

What future fleet additions has Diana Shipping Inc. (DSX) disclosed?

Diana Shipping expects delivery of two methanol dual fuel new-building Kamsarmax dry bulk vessels, one by the second half of 2027 and the other by the first half of 2028.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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 September 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 September 21, 2026, of Diana Shipping Inc. (the "Company"), announcing that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Dai An Ocean Shipping Company Limited, for one of its Ultramax dry bulk vessels, the m/v DSI Polaris.

 

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: September 22, 2026 By: /s/ Margarita Veniou
    Margarita Veniou
    Secretary

 

  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 DSI POLARIS WITH DAI AN OCEAN SHIPPING

 

ATHENS, GREECE, September 21, 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 Dai An Ocean Shipping Company Limited, for one of its Ultramax dry bulk vessels, the m/v DSI Polaris. The gross charter rate is US$18,000 per day, minus a 5.00% commission paid to third parties, for a period until minimum May 1, 2028 up to maximum June 30, 2028. The charter is expected to commence on September 25, 2026. The m/v DSI Polaris is currently chartered, as previously announced, to Cargill Ocean Transportation (Singapore) Pte. Ltd, at a gross charter rate of US$12,250 per day, minus a 4.75% commission paid to third parties.

 

The “DSI Polaris” is a 60,404 dwt Ultramax dry bulk vessel built in 2018.

 

The employment of “DSI Polaris” is anticipated to generate a total of approximately US$10.37 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 12.83 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.

 

 

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