Diana Shipping Secures Charter with NYK Line
Diana Shipping, a prominent Greek bulker owner listed on the New York Stock Exchange, has recently made a significant move in the shipping industry. The company has entered into a time charter contract with Japan’s Nippon Yusen Kabushiki Kaisha (NYK Line) for one of its kamsarmax vessels, the Myrto. This agreement marks a strategic step for Diana Shipping as it continues to expand its operations and enhance its fleet’s utilization.
Details of the Charter Agreement
The charter agreement involves the 2013-built kamsarmax vessel, Myrto, which has a deadweight tonnage (dwt) of 82,131. Under the terms of the contract, the gross charter rate is set at $12,000 per day. However, this amount is subject to a 5% commission that will be paid to third parties. The charter period is established to last until at least March 1, 2026, with the possibility of extending up to May 15, 2026.
The commencement of the charter is expected to take place today, marking the beginning of a new chapter for the Myrto. Over the minimum scheduled period of the time charter, Diana Shipping anticipates generating approximately $5.11 million in gross revenue. This financial boost is crucial for the company as it navigates the competitive landscape of the shipping industry.
By securing this charter, Diana Shipping not only enhances its revenue stream but also solidifies its relationship with a reputable partner like NYK Line. This collaboration reflects the company’s commitment to maintaining a robust fleet and ensuring that its vessels are actively employed in the market.
Diana Shipping’s Fleet and Future Prospects
Diana Shipping boasts a diverse fleet of 38 dry bulk vessels, showcasing its significant presence in the shipping sector. The fleet includes four newcastlemaxes, eight capesizes, five post-panamaxes, six kamsarmaxes, six panamaxes, and nine ultramaxes. This variety allows the company to cater to different market demands and optimize its operations.
Looking ahead, Diana Shipping has plans to expand its fleet further. The company expects to take delivery of two new methanol dual fuel kamsarmax dry bulk vessels by the second half of 2027 and the first half of 2028. These new additions will enhance the fleet’s capacity and sustainability, aligning with the industry’s shift towards greener technologies.
Currently, the combined carrying capacity of Diana Shipping’s fleet, excluding the two vessels not yet delivered, stands at approximately 4.2 million dwt. The weighted average age of the fleet is 11.22 years, indicating a relatively modern fleet that is well-positioned to meet the demands of the global shipping market. With these developments, Diana Shipping is poised for continued growth and success in the coming years.
