Diana Shipping Inc. has secured a new time charter contract with Cargill Ocean Transportation for its 2017-built Ultramax dry bulk vessel, m/v DSI Phoenix. The vessel will earn a gross daily rate of $13,500, less a 4.75% commission to third parties. The charter is scheduled to begin on August 3, 2025, and will run through October 1, 2026, with the possibility of extension until November 30, 2026.
The agreement is expected to generate approximately $5.64 million in gross revenue over its minimum term. The DSI Phoenix, with a deadweight capacity of 60,456 tons, is well-suited for transporting dry bulk cargoes like grain, coal, and iron ore. This new contract further strengthens Diana Shipping’s steady income stream amid market volatility and reinforces its position in the Ultramax segment.
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Source: Diana Shipping Inc.
