Diana Shipping Secures $12.5M in New Charter Deals
Greek dry bulk owner Diana Shipping has announced significant new charter agreements, projecting approximately $12.5 million in gross revenue from two vessels. The New York-listed company has finalized a deal with MOL Ocean Bulk for its Newcastlemax vessel, Los Angeles, and extended its contract with Bunge for the ultramax vessel, DSI Aquarius. These agreements mark a strategic move to enhance the company’s revenue stream through 2026.
Details of the Charter Agreements
Diana Shipping has fixed its 2012-built Newcastlemax vessel, Los Angeles, to MOL Ocean Bulk at a daily rate of $24,000, minus a 5% commission. This charter will commence in November 2025 and extend until between September and November 2026. Previously, the vessel was under charter with NYK, earning a higher rate of $28,700 per day since mid-2024. This new agreement reflects a strategic adjustment in the market as Diana seeks to optimize its fleet’s earnings.
In a separate arrangement, Diana has extended the employment of its 2016-built ultramax vessel, DSI Aquarius, with Bunge. The new contract will see the vessel earning $14,500 per day, also subject to a 5% commission. This extension will run from November 2025 to as late as December 2026, offering an improved rate compared to the previous contract, which was set at $13,300 per day. Collectively, these two fixtures are expected to generate a total of $12.55 million in gross revenue over their minimum charter terms, significantly bolstering Diana Shipping’s financial outlook.
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Further Charter Expansions
In addition to the recent agreements, Diana Shipping has secured fresh charter contracts for two more vessels, extending its operational coverage into 2027. The company has arranged a direct continuation for its 2007-built capesize vessel, Semirio, with Solebay Shipping. This new deal will commence in March 2026 at a daily rate of $21,650, an increase from the current rate of $16,650. Furthermore, Diana has fixed its 2013-built panamax vessel, Maera, to Singapore-based CRC Shipping. This charter is set to begin in November for a minimum duration of 13 months at a rate of $11,750 per day, up from its existing rate of $8,400 with China Resource Chartering. These strategic moves underscore Diana Shipping’s commitment to enhancing its fleet’s profitability and securing long-term contracts in a competitive market.
