Diana Shipping Inc., 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 Refined Success Limited, for one of its Newcastlemax dry bulk vessels, the m/v Philadelphia. The gross charter rate is US$21,500 per day, minus a 5.00% commission paid to third parties, for a period until minimum June 9, 2026 up to maximum August 8, 2026. The charter is expected to commence on May 29, 2025.
The “Philadelphia” is a 206,040 dwt Newcastlemax dry bulk vessel built in 2012.
The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with SwissMarine Pte. Ltd., Singapore, for one of its Post-Panamax dry bulk vessels, the m/v Phaidra. The gross charter rate is US$9,750 per day, minus a 5.00% commission paid to third parties, for a period until minimum January 1, 2026 up to maximum February 28, 2026. The charter is expected to commence on May 31, 2025.
The “Phaidra” is an 87,146 dwt Post-Panamax dry bulk vessel built in 2013.
The employments of “Philadelphia” and “Phaidra” are anticipated to generate approximately US$10.03 million of gross revenue for the minimum scheduled periods of the time charters.
Diana Shipping Inc.’s fleet currently consists of 37 dry bulk vessels (4 Newcastlemax, 8 Capesize, 4 Post-Panamax, 6 Kamsarmax, 6 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 11.57 years.