Diana Shipping Inc. Announces Time Charter Contract for m/v Medusa With Cargill

Core Viewpoint - Diana Shipping Inc. has entered into a time charter contract with Cargill International SA for its Kamsarmax dry bulk vessel, the m/v Medusa, with a gross charter rate of US$13,000 per day, expected to generate approximately US$5.46 million in gross revenue for the minimum charter period [1][2]. Group 1: Charter Agreement Details - The time charter for the m/v Medusa is set to commence on March 15, 2025, and will last until at least May 15, 2026, with a maximum end date of July 15, 2026 [1]. - The charter rate is subject to a 4.75% commission paid to third parties [1]. Group 2: Fleet Composition and Future Plans - Following the sale of the m/v Alcmene, Diana Shipping Inc.'s fleet will consist of 37 dry bulk vessels, including various classes such as Newcastlemax, Capesize, Post-Panamax, Kamsarmax, Panamax, and Ultramax [3]. - The company anticipates taking delivery of two methanol dual fuel new-building Kamsarmax dry bulk vessels by the second half of 2027 and the first half of 2028 [3]. - The current fleet has a combined carrying capacity of approximately 4.2 million dwt and a weighted average age of 11.45 years [3]. Group 3: Company Overview - Diana Shipping Inc. is a global provider of shipping transportation services, specializing in the ownership and bareboat charter-in of dry bulk vessels [4]. - The company's vessels primarily engage in short to medium-term time charters, transporting a variety of dry bulk cargoes, including iron ore, coal, and grain [4].