Diana seals Gargill ultramax fixture
Diana Shipping Secures Charter Deal with Cargill
Diana Shipping, a prominent Greek dry bulk shipping company listed on the New York Stock Exchange, has announced a new time charter agreement with Cargill’s shipping unit based in Singapore. The deal involves the ultramax vessel, DSI Phoenix, which is set to commence on August 3, 2025, with the charter extending until late November 2026. This agreement is expected to bring substantial revenue to Diana Shipping.
Details of the Charter Agreement
The DSI Phoenix, launched in 2017, has been secured under a time charter with a stipulated day rate of $13,500, which also includes a 4.75% commission for third-party services. Diana Shipping anticipates generating approximately $5.64 million in revenue over the minimum duration of the agreement, which runs from October 1, 2026, to November 30, 2026. This new contract comes after the vessel previously enjoyed a more lucrative arrangement with Bulk Trading, which was set at $16,500 per day.
In addition to the DSI Phoenix, Cargill has also chartered another ultramax vessel from Diana Shipping, the DSI Polaris, which will be leased until July 21 of the following year at a rate of $12,500 per day. These contracts signal a continued partnership between Diana Shipping and Cargill, highlighting the demand for bulk shipping services in the current market.
