Diana Shipping Inc. (NYSE: DSX), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, has announced that a wholly-owned subsidiary has entered into a time charter contract with Paralos Shipping Pte., Ltd. The contract is for one of its Kamsarmax dry bulk vessels, the m/v Astarte. The vessel will have a gross charter rate of $14,000 per day, minus a 5% commission paid to third parties, and the charter period will last from a minimum of July 15, 2025, to a maximum of September 15, 2025. The charter is set to begin on August 18, 2024.
Details of the Astarte Charter
The m/v Astarte is an 81,513 dwt Kamsarmax dry bulk vessel built in 2013. The employment of the Astarte is expected to generate approximately $4.58 million in gross revenue for the minimum duration of the time charter.
Fleet Composition and Future Plans
Following the previously announced sale of the m/v Houston, Diana Shipping Inc.’s fleet will comprise 38 dry bulk vessels. This includes 4 Newcastlemax, 8 Capesize, 5 Post-Panamax, 6 Kamsarmax, 6 Panamax, and 9 Ultramax vessels. The company also plans 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. Currently, the combined carrying capacity of the company’s fleet, including the m/v Houston and excluding the two vessels not yet delivered, is approximately 4.4 million dwt, with a weighted average age of 11.03 years.
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Source: Diana Shipping Inc.
