Diana Shipping Inc. announces time charter contract for
Diana Shipping Secures Time Charter for Panamax Vessel
Diana Shipping Inc., a prominent player in the global shipping industry, has announced a significant time charter agreement for its Panamax dry bulk vessel, the m/v Ismene. This contract, established through a wholly-owned subsidiary, is with China Resource Chartering Pte. Ltd. and is set to commence on April 26, 2025. The charter is expected to generate substantial revenue for the company over the next year.
Details of the Charter Agreement
The time charter for the m/v Ismene will operate at a gross rate of $11,000 per day, with a 5% commission payable to third parties. The contract is structured to last from a minimum of March 20, 2026, to a maximum of May 20, 2026. This agreement is anticipated to yield approximately $3.54 million in gross revenue during the minimum scheduled period.
The Ismene is a 77,901 deadweight ton (dwt) Panamax vessel, built in 2013, and is part of Diana Shipping’s diverse fleet. Currently, the company operates a total of 37 dry bulk vessels, which include 4 Newcastlemax, 8 Capesize, 4 Post-Panamax, 6 Kamsarmax, 6 Panamax, and 9 Ultramax vessels. Diana Shipping is also preparing to expand its fleet with the delivery of two new methanol dual-fuel Kamsarmax vessels, expected in the second half of 2027 and the first half of 2028.
As of now, the combined carrying capacity of Diana Shipping’s fleet, excluding the two vessels yet to be delivered, stands at approximately 4.1 million dwt, with a weighted average age of 11.46 years. This latest charter agreement marks a strategic move for the company, reinforcing its position in the competitive dry bulk shipping market.
