1. DSX secured a time charter for m/v Myrsini at $13,500 per day. 2. Charter expected to generate ~$4.71M revenue by February 2027. 3. Current fleet consists of 36 dry bulk vessels with 4.1M dwt capacity. 4. New methanol dual fuel vessels expected by 2028 will enhance fleet sustainability. 5. Economic conditions and charter rates could affect DSX's future performance.
FAQ
Why Bullish?
The new charter increases revenue stream, enhancing financial stability. Historical examples show positive market response to consistent revenue announcements.
How important is it?
This development is significant for DSX due to its impact on cash flow and investor confidence. Charter contracts are vital for shipping companies' financial health, directly influencing stock performance.
Why Short Term?
Revenue generation begins January 2026, likely impacting stock price positively in the near term. Investors usually react quickly to new contracts.
Diana Shipping Inc. Secures Time Charter Contract for m/v Myrsini with Paralos Shipping
ATHENS, Greece, Dec. 19, 2025 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX), a prominent global shipping company, has announced a significant time charter contract with Paralos Shipping Pte. Ltd. for its Kamsarmax dry bulk vessel, the m/v Myrsini. This contract marks a continued expansion of the company’s chartering operations and is set to commence on January 1, 2026.
Details of the Charter Agreement
The time charter agreement with Paralos Shipping will see the m/v Myrsini providing services at a gross charter rate of US$13,500 per day, subject to a 5.00% commission paid to third parties. This arrangement is scheduled to last until a minimum of December 20, 2026, and may extend until February 20, 2027, depending on operational requirements.
Currently, the m/v Myrsini is on charter to Cargill International SA, Geneva, at a rate of US$13,000 per day, with a 4.75% commission to third parties.
Financial Implications of the Charter
This charter is projected to generate an estimated US$4.71 million in gross revenue for the minimum duration specified in the agreement. Such financial benchmarks showcase the vessel's capability to contribute significantly to Diana Shipping Inc.'s overall performance.
Fleet and Future Expansion Plans
Diana Shipping Inc. currently operates a diverse fleet of 36 dry bulk vessels, which includes:
- 4 Newcastlemax
- 8 Capesize
- 4 Post-Panamax
- 6 Kamsarmax
- 5 Panamax
- 9 Ultramax
The company is also poised to enhance its fleet further with the delivery of two methanol dual fuel new-building Kamsarmax vessels, expected in the second half of 2027 and the first half of 2028 respectively. The total carrying capacity of the existing fleet stands at approximately 4.1 million dwt, with a weighted average age of 12.07 years.
About Diana Shipping Inc.
Diana Shipping Inc. is renowned for its involvement in the ownership and bareboat charter-in of dry bulk vessels. The company's operations primarily focus on short to medium-term time charters, transporting essential dry bulk commodities including iron ore, coal, and grain across major shipping routes.
Cautionary Statement Regarding Forward-Looking Statements
The statements in this release may contain forward-looking information as defined by the Private Securities Litigation Reform Act of 1995. As such, these statements are subject to various risks and uncertainties. Factors that could cause actual results to differ from projected outcomes include changes in global economies, fluctuations in charter rates, and variations in operating costs.
For a fuller understood of these potential hazards, investors are encouraged to review Diana Shipping Inc.'s filings with the U.S. Securities and Exchange Commission.
Contact Information
For additional inquiries, please contact:
- Ioannis Zafirakis, Director, Co-Chief Financial Officer, Chief Strategy Officer
- Telephone: +30-210-9470-100
- Email: izafirakis@dianashippinginc.com
- Website: www.dianashippinginc.com
For media inquiries, please reach out to:
- Nicolas Bornozis / Daniela Guerrero, Capital Link, Inc.
- Telephone: (212) 661-7566
- Email: diana@capitallink.com