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

Core Viewpoint - Diana Shipping Inc. has entered into a time charter contract with Cargill Ocean Transportation for its Ultramax dry bulk vessel, m/v DSI Polaris, with a gross charter rate of US$12,250 per day, expected to generate approximately US$4.66 million in gross revenue for the minimum charter period [1][2]. Group 1: Charter Agreement Details - The time charter for m/v DSI Polaris is set to commence on July 1, 2025, and will last until at least July 21, 2026, with a maximum end date of September 21, 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 m/v Selina, Diana Shipping Inc.'s fleet will consist of 36 dry bulk vessels, including various types such as Newcastlemax, Capesize, 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 4.1 million dwt and a weighted average age of 11.65 years [3]. Group 3: Company Overview - Diana Shipping Inc. specializes in shipping transportation services through the ownership and bareboat charter-in of dry bulk vessels, primarily engaged in short to medium-term time charters [4]. - The vessels transport a variety of dry bulk cargoes, including iron ore, coal, and grain, along global shipping routes [4].