Diana Shipping Inc. Announces Time Charter Contract For m/v DSI Phoenix With Cargill Ocean Transportation

Diana Shipping Inc., a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, announced that through a separate wholly-owned subsidiary, it has entered into a time charter contract with Cargill Ocean Transportation (Singapore) Pte. Ltd., for one of its Ultramax dry bulk vessels, the m/v DSI Phoenix. The gross charter rate is US$13,500, minus a 4.75% commission paid to third parties, for a period until minimum October 1, 2026 up to maximum November 30, 2026. The charter is expected to commence on August 3, 2025.

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$5.64 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 36 dry bulk vessels (4 Newcastlemax, 8 Capesize, 4 Post-Panamax, 6 Kamsarmax, 5 Panamax and 9 Ultramax). The Company also expects 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, respectively. As of today, the combined carrying capacity of the Company’s fleet, excluding the two vessels not yet delivered, is approximately 4.1 million dwt, with a weighted average age of 11.67 years.
Source: Diana Shipping Inc.