Greece-based and New York-listed Diana Shipping, through a separate wholly-owned subsidiary, has entered into a time charter contract with Stone Shipping Ltd, for one of its ultramax dry bulk vessels, the DSI Pollux.
Stone Shipping hired the 60,446-dwt ultramax bulk vessel built in 2015.
The vessel is chartered for a gross charter rate of $14,750, minus a 5.00% commission paid to third parties, for a period until minimum January 1, 2027, up to maximum February 28, 2027.
The charter is expected to begin on December 8, 2025.
The DSI Pollux is currently chartered to Bunge SA, Geneva, at a gross charter rate of $14,000 per day, minus a 5.00% commission paid to third parties.
The company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Western Bulk Carriers AS for one of its ultramax dry bulk vessels, the DSI Andromeda. The gross charter rate is $14,600, minus a 5.00% commission paid to third parties, for a period until minimum April 1, 2027, up to maximum May 31, 2027. The charter is expected to commence on December 7, 2025.
The DSI Andromeda was chartered to Cargill Ocean Transportation (Singapore) Pte. Ltd. at a gross charter rate of $14,000 per day, minus a 4.75% commission paid to third parties.
The DSI Andromeda is a 60,309 dwt ultramax bulk vessel built in 2016.
The employments of DSI Pollux and DSI Andromeda are anticipated to generate a total of approximately $12.60m of gross revenue for the minimum scheduled period of the time charters.
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 newbuilding kamsarmax dry bulk vessels by the second half of 2027 and the first half of 2028, respectively.
Currently, 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.
