Diana Shipping Announces Time Charter For Ultramax Bulker

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Diana Shipping Inc., through a separate wholly-owned subsidiary, has entered into a time charter contract with Bulk Trading SA, for one of its Ultramax dry bulk vessels, the m/v DSI Phoenix.

Time charter contract

The gross charter rate is US$16,500 per day, minus a 5% commission paid to third parties, for a period until minimum August 1, 2025 up to maximum September 30, 2025. The charter is expected to commence on May 8, 2024. The m/v DSI Phoenix is currently chartered, as previously announced, to ASL Bulk Marine Limited, at a gross charter rate of US$13,250 per day, minus a 5.00% commission paid to third parties.

The “DSI Phoenix” is a 60,456 dwt Ultramax dry bulk vessel built in 2017. The employment of “DSI Phoenix” is anticipated to generate approximately US$7.33 million of gross revenue for the minimum scheduled period of the time charter.

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Source: Diana Shipping Inc.