Diana Shipping Inc., a global company in the ownership and chartering of dry bulk vessels, has announced that through a wholly-owned subsidiary, it has signed a time charter agreement with Dai An Ocean Shipping Company Limited for its Ultramax dry bulk vessel, m/v DSI Polaris.
Charter Agreement Details
The gross charter rate for this agreement is set at $18,000 per day, which will be received by Diana Shipping after deducting a 5.00 percent commission payable to third parties. The contract will be executed for a minimum period until May 1, 2028, and a maximum until June 30, 2028, with the charter expected to commence on September 25, 2026. The vessel m/v DSI Polaris is currently on charter to Cargill Ocean Transportation (Singapore) Pte. Ltd. at a rate of $12,250 per day, with a 4.75 percent commission paid to third parties.
Vessel Data and Revenue Forecast
The vessel “DSI Polaris” has a deadweight tonnage (dwt) of 60,404 and was built in 2018. According to estimates, the employment of this vessel during the planned period will generate gross revenue of approximately $10.37 million for Diana Shipping.
Diana Shipping's fleet currently consists of 36 dry bulk vessels, including 4 Newcastlemax, 8 Capesize, 4 Post-Panamax, 6 Kamsarmax, 5 Panamax, and 9 Ultramax vessels. Additionally, the company expects to take delivery of two new Kamsarmax bulk carriers powered by methanol in the second half of 2027 and the first half of 2028. The total carrying capacity of the company’s fleet, including the two vessels yet to be delivered, is approximately 4.1 million dwt, with an average fleet age of 12.83 years.
