Diana Shipping Secures New Charter for Kamsarmax Vessel
Diana Shipping has announced a significant new time charter agreement for one of its kamsarmax bulk carriers, enhancing its portfolio of period fixtures. The company, listed in the U.S., has partnered with Paralos Shipping to charter the 2010-built Myrsini at a daily rate of $13,500, after a 5% commission. This charter will commence on January 1, 2026, and continues until December 20, 2026, with options to extend through February 20, 2027.
Details of the Charter Agreement
The Myrsini, with a deadweight tonnage of 82,117, is currently under charter to Cargill at a rate of $13,000 per day, minus a 4.75% commission. With the new agreement in place, Diana Shipping anticipates that the charter will generate approximately $4.71 million in revenue over the minimum period. This move reflects the company’s proactive approach to securing stable long-term employment for its fleet.
Diana Shipping has been active in the chartering market, recently securing multi-year contracts for two ultramax vessels at improved rates compared to their previous agreements. This trend of securing favorable terms continues with the chartering of one of its capesize bulkers earlier this month. The Athens-based company operates a fleet of 36 dry bulk vessels, demonstrating its commitment to maintaining a robust presence in the shipping industry.
Market Impact and Future Prospects
The new charter agreement not only solidifies Diana Shipping’s operational stability but also reflects ongoing positive developments within the shipping sector. By locking in contracts at competitive rates, the company is positioning itself to maximize revenue potential amid fluctuating market conditions. The deal with Paralos Shipping is part of a broader strategy to enhance fleet utilization and revenue generation.
As Diana Shipping continues to navigate the complexities of the dry bulk market, its recent chartering activities indicate a strong forward momentum. The company’s strategic decisions in securing long-term charters will likely play a crucial role in maintaining the financial health and operational efficiency of its fleet in the coming years.
