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 Glencore Freight Pte. Ltd., for one of its Capesize dry bulk vessels, the m/v P. S. Palios. The gross charter rate is US$25,200, minus a 5.00% commission paid to third parties, for a period until minimum November 15, 2026 up to maximum January 15, 2027. The charter is expected to commence on December 14, 2025.
The “P. S. Palios” is a 179,134 dwt Capesize bulk vessel built in 2013.
The employment of “P. S. Palios” is anticipated to generate a total of approximately US$8.34 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 12.03 years.