Diana Shipping Inc. announces time charter contract with Dai An Ocean Shipping

Diana Shipping Inc. ('The Comapny'), a global shipping company specialising 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 Dai An Ocean Shipping Company Limited, for one of its Ultramax dry bulk vessels, the m/v DSI Polaris. The gross charter rate is US$18 000 per day, minus a 5% commission paid to third parties, for a period until minimum 1 May, 2028 up to maximum 30 June, 2028. The charter is expected to commence on 25 September, 2026. The m/v DSI Polaris is currently chartered to Cargill Ocean Transportation (Singapore) Pte. Ltd, at a gross charter rate of US$12 250 per day, minus a 4.75% commission paid to third parties.

The DSI Polaris is a 60 404 dwt Ultramax dry bulk vessel built in 2018.

The employment of DSI Polaris is anticipated to generate a total of approximately US$10.37 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. 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 12.83 yr.

Read the article online at: https://www.drybulkmagazine.com/dry-bulk/24092026/diana-shipping-inc-announces-time-charter-contract-with-dai-an-ocean-shipping/