Diana Shipping Secures Charter Extension for Amphitrite
New York-listed Diana Shipping, a prominent Greek dry bulk owner, has successfully secured a direct continuation of the charter for its post-panamax vessel, the *Amphitrite*. This agreement ensures that the ship will remain employed under the management of operator Cobelfret. The new charter arrangement is set to commence on February 8, 2026, and will last until at least March 1, 2027, with an option to extend the contract until April 30, 2027.
Under the terms of the new deal, the *Amphitrite*, which has a deadweight tonnage of 98,697, will earn a gross daily rate of $13,000 for the first 30 days. Following this initial period, the rate will increase to $16,500 per day, with a 5% commission deducted from both rates. This new charter marks an improvement in earnings for Diana Shipping, as the *Amphitrite* was previously trading on a time charter at $12,100 per day, also subject to commission.
Financial Implications and Recent Activity
Diana Shipping anticipates that the employment of the *Amphitrite* will generate approximately $6.15 million in gross revenue during the minimum contracted period. This financial boost is significant for the company as it continues to navigate the competitive dry bulk market.
This charter extension is the third reported deal for Diana Shipping in 2023. Earlier in January, the company secured a charter for its ultramax vessel, the DSI Altair, with commodities group Bunge. Additionally, Diana Shipping finalized a follow-on time charter for its kamsarmax vessel, the Maia, in a direct continuation with Paralos Shipping. These agreements reflect the company’s proactive approach to maintaining and enhancing its fleet’s employment status.
As the dry bulk market continues to evolve, Diana Shipping’s strategic decisions to secure favorable charter agreements position the company for sustained growth and profitability. The continuation of the *Amphitrite*’s charter not only reinforces Diana Shipping’s operational stability but also highlights its commitment to maximizing revenue opportunities in a challenging industry landscape.
