- Mitsui O.S.K. Lines to Charter Capesize Vessel from Diana Shipping Inc.
- US$6.42 Million Revenue Expected from New Charter Agreement.
- Santa Barbara’s Time Charter at US$22,000 Per Day Announced.
ATHENS, GREECE, December 18, 2024 – Diana Shipping Inc. (NYSE: DSX), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Mitsui O.S.K. Lines, Ltd. for m/v Santa Barbara, a Capesize dry bulk vessel, reports Diana Shipping Inc.
Time Charter Agreement
Under the terms of the contract, the gross charter rate is US$22,000 per day, less a 5.00% commission paid to third parties. The charter period will last from a minimum of October 20, 2025, to a maximum of December 20, 2025, and is expected to commence on December 28, 2024.
Previous Charter Details
The m/v Santa Barbara had previously been chartered to Smart Gain Shipping Co., Limited at a gross rate of US$21,250 per day less a 5.00% commission paid to third parties.
Vessel Details and Revenue Expectations
The m/v Santa Barbara is a 179,426 dwt Capesize dry bulk vessel built in 2015. Gross earnings from employment of the vessel under this new charter are estimated to be about US$6.42 million for the minimum scheduled period.
Diana Shipping Inc.’s Fleet
Diana Shipping Inc. has presently a fleet of 38 dry bulk vessels, with the following types:
- 4 Newcastlemax8 Capesize
- 5 Post-Panamax
- 6 Kamsarmax
- 6 Panamax
- 9 Ultramax
The Company expects to increase its fleet with two methanol dual-fuel new-building Kamsarmax dry bulk vessels, which are scheduled to be delivered in the second half of 2027 and the first half of 2028.
Fleet Capacity and Operations
As of December 18, 2024, the total carrying capacity of Diana Shipping Inc.’s fleet excluding the two vessels that are still under construction is around 4.2 million dwt with a weighted average age of 11.22 years. The Company is active in short to medium-term time charters, moving an array of dry bulk cargoes including iron ore, coal, grain, and other cargoes, along the routes of global shipping.
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Source: Diana Shipping Inc
