STOCK TITAN

Diana Shipping (NYSE: DSX) lands higher-rate charter for m/v Leto

(Neutral)
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

Diana Shipping Inc. (DSX) reports that, through a wholly owned subsidiary, it has extended the time charter contract with Cargill International SA for its Panamax dry bulk vessel m/v Leto. The new gross charter rate is US$18,000 per day, minus a 4.75% commission to third parties, for a period from minimum September 1, 2027 up to maximum October 31, 2027, with the new charter period expected to commence on September 10, 2026. The vessel is currently chartered at a gross rate of US$12,750 per day, minus the same commission. The “Leto” is an 81,297 dwt Panamax dry bulk vessel built in 2010, and the employment extension is anticipated to generate approximately US$6.34 million of gross revenue for the minimum scheduled period. Diana Shipping’s fleet consists of 36 dry bulk vessels with a combined carrying capacity of about 4.1 million dwt and a weighted average age of 12.75 years, and it expects delivery of two methanol dual fuel new-building Kamsarmax vessels in 2027–2028.

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Filing Explained

As a Form 6-K, this filing furnishes interim material information from Diana Shipping’s home market and incorporates the charter disclosure into two effective Form F-3 registration statements.

New gross charter rate for m/v Leto US$18,000 per day Time charter extension with Cargill International SA
Current gross charter rate for m/v Leto US$12,750 per day Existing time charter prior to new period
Commission 4.75% Commission on m/v Leto charter rate paid to third parties
Expected gross revenue from extension US$6.34 million Minimum scheduled period of m/v Leto time charter
Deadweight tonnage of m/v Leto 81,297 dwt Panamax dry bulk vessel built in 2010
Fleet size 36 dry bulk vessels Total vessels currently in Diana Shipping Inc.’s fleet
Combined carrying capacity Approximately 4.1 million dwt Fleet carrying capacity excluding two not-yet-delivered vessels
Weighted average fleet age 12.75 years As of the date of the announcement
time charter financial
"it has extended the time charter contract with Cargill International SA"
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.
Panamax technical
"for one of its Panamax dry bulk vessels, the m/v Leto"
Panamax is a classification for cargo ships built to the maximum dimensions that could pass through the original Panama Canal locks. Investors care because ship size affects how goods move, port demand and shipping rates—think of it like a piece of furniture sized to fit through a doorway: if many ships fit the canal, freight flows more smoothly and competition changes, which can influence shipping companies’ revenues and broader trade-dependent businesses.
dwt technical
"The “Leto” is an 81,297 dwt Panamax dry bulk vessel"
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.

FAQ

What charter rate did DSX secure for the m/v Leto extension?

Diana Shipping Inc. secured a gross charter rate of US$18,000 per day for the m/v Leto, minus a 4.75% commission to third parties, for a period running until minimum September 1, 2027 and up to maximum October 31, 2027.

How does the new m/v Leto rate compare with the current charter rate for DSX?

The new gross charter rate for the m/v Leto is US$18,000 per day, compared with the current gross charter rate of US$12,750 per day, both subject to a 4.75% commission paid to third parties.

When will the new time charter period for DSX’s m/v Leto start?

The new time charter period for Diana Shipping Inc.’s m/v Leto is expected to commence on September 10, 2026, with the extended charter running until minimum September 1, 2027 and up to maximum October 31, 2027.

How much revenue is the m/v Leto charter extension expected to generate for DSX?

The employment extension of the m/v Leto is anticipated to generate approximately US$6.34 million of gross revenue for the minimum scheduled period of the time charter, according to Diana Shipping Inc.

What is the size and profile of Diana Shipping Inc.’s fleet (DSX)?

Diana Shipping Inc.’s fleet consists of 36 dry bulk vessels with a combined carrying capacity of about 4.1 million dwt and a weighted average age of 12.75 years, excluding two methanol dual fuel Kamsarmax newbuildings expected in 2027–2028.

What type and size of vessel is DSX’s m/v Leto?

The m/v Leto is an 81,297 dwt Panamax dry bulk vessel built in 2010. It is one of Diana Shipping Inc.’s Panamax dry bulk vessels employed on time charter.

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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 August 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 August 24, 2026, of Diana Shipping Inc. (the "Company"), announcing that, through a separate wholly-owned subsidiary, it has extended the time charter contract with Cargill International SA, Geneva, for one of its Panamax dry bulk vessels, the m/v Leto. 

 

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: August 25, 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

DIRECT CONTINUATION OF TIME CHARTER CONTRACT

FOR M/V LETO WITH CARGILL

 

ATHENS, GREECE, August 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 extended the time charter contract with Cargill International SA, Geneva, for one of its Panamax dry bulk vessels, the m/v Leto. The gross charter rate is US$18,000 per day, minus a 4.75% commission paid to third parties, for a period until minimum September 1, 2027 up to maximum October 31, 2027. The new charter period is expected to commence on September 10, 2026. The m/v Leto is currently chartered, as previously announced, at a gross charter rate of US$12,750 per day, minus a 4.75% commission paid to third parties.

 

The “Leto” is an 81,297 dwt Panamax dry bulk vessel built in 2010.

 

The employment extension of “Leto” is anticipated to generate approximately US$6.34 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 12.75 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.

 

 

Filing Exhibits & Attachments

1 document