Diana Shipping Inc. Announces Time Charter Contract for m/v Myrsini with Cobelfret S.A.

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Diana Shipping Inc. (NYSE: DSX), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, announced that a wholly-owned subsidiary has signed a time charter contract with Cobelfret S.A., Luxembourg, for its Kamsarmax dry bulk vessel, the m/v Myrsini. The contract offers a gross charter rate of $17,100 per day, minus a 5% commission for third parties, for a period from February 1, 2025, to March 25, 2025. The charter will commence on June 25, 2024.

Details of the m/v Myrsini Vessel

The m/v Myrsini is an 82,117 dwt Kamsarmax dry bulk vessel built in 2010. It is currently chartered to Salanc Pte. Ltd. at a gross rate of $15,000 per day, minus a 5% commission.

Expected Revenue from the Charter

The new charter for the m/v Myrsini is expected to generate approximately $3.71 million in gross revenue for the minimum scheduled period.

Current Fleet Composition

Following the sale of the m/v Houston, Diana Shipping Inc.’s fleet will consist of 38 dry bulk vessels, including 4 Newcastlemax, 8 Capesize, 5 Post-Panamax, 6 Kamsarmax, 6 Panamax, and 9 Ultramax vessels. The company is also set to receive two methanol dual-fuel Kamsarmax new-buildings by the second half of 2027 and the first half of 2028. The combined carrying capacity of the fleet, excluding the two new vessels, is approximately 4.4 million dwt with an average age of 10.86 years.

About Diana Shipping Inc.

Diana Shipping Inc. provides shipping transportation services through ownership and bareboat charter-in of dry bulk vessels. The company’s vessels are typically employed on short to medium-term time charters, transporting dry bulk cargoes like iron ore, coal, grain, and other materials along global shipping routes.

Forward-Looking Statements and Cautionary Note

This press release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements involve various assumptions and uncertainties, including market conditions, charter rates, and vessel values, among others. Actual results may differ materially due to factors such as global economic conditions, changes in demand for shipping, operating expenses, regulatory changes, and political events. Diana Shipping Inc. does not undertake to update any forward-looking statements except as required by law. For more detailed information, please refer to the company’s filings with the U.S. Securities and Exchange Commission.

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Source: Diana Shipping Inc.