Diana Shipping Secures Higher Rate for m/v G. P. Zafirakis | Mariner News

Diana Shipping Inc. has secured a new time charter contract for its Capesize dry bulk vessel, the m/v G. P. Zafirakis, with Classic Maritime Inc. The agreement stipulates a gross charter rate of US$38,000 per day, subject to a 5.00% third-party commission.

This new rate represents a substantial increase over the vessel’s current employment with Nippon Yusen Kabushiki Kaisha, Tokyo, which pays US$26,800 per day. The new charter for the 179,492 dwt, 2014-built Capesize is expected to commence on October 10, 2026, and will run until at least October 1, 2027, with a maximum period extending to December 15, 2027.

The swift commencement of the new charter, initiating one day after the announcement and while the vessel is still under its previous contract, signals Diana Shipping’s proactive approach to fleet employment. This strategy aims to maximize revenue generation by securing favorable forward contracts with minimal off-hire between engagements, capitalizing on prevailing market strength.

Over its minimum scheduled period, the time charter for the G. P. Zafirakis is anticipated to generate approximately US$13.34 million in gross revenue for Diana Shipping. The company’s fleet currently comprises 36 dry bulk vessels.