Diana Shipping, a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Oldendorff Carriers GmbH & Co. KG, for one of its Post-Panamax dry bulk vessels, the m/v Electra. The gross charter rate is US$14,000, minus a 5.00% commission paid to third parties, for a period until minimum December 1, 2026 up to maximum January 31, 2027. The charter is expected to commence on December 4, 2025.
The “Electra” is an 87,150 dwt Post-Panamax bulk vessel built in 2013.
The employment of “Electra” is anticipated to generate approximately US$5.00 million of gross revenue for the minimum scheduled period of the time charter.
The Company also announced that, the previously disclosed Memorandum of Agreement for the sale of the 2016-built Ultramax dry bulk vessel m/v DSI Drammen has been terminated. The Company, through a limited partnership in which it holds a 25% interest (with the remaining 75% owned by Ecobulk AS, a Norwegian entity), had announced the sale of the vessel on September 18, 2025, with delivery to the buyer scheduled latest by October 31, 2025, for a sale price of approximately US$26.86 million before commissions.
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 11.98 years.