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Diana Shipping Inc. Announces Time Charter Contract for m/v DSI Polaris with Dai An Ocean Shipping

  • Diana Shipping Inc. entered a time charter agreement with Dai An Ocean Shipping Company Limited for the m/v DSI Polaris, an Ultramax dry bulk vessel.
  • The gross charter rate is set at US$18,000 per day, less a 5.00% commission, with a minimum term of May 1, 2028, to a maximum of June 30, 2028.
  • The new charter is expected to commence on September 25, 2026, replacing an existing charter with Cargill Ocean Transportation at US$12,250 per day.
  • The m/v DSI Polaris is a 60,404 dwt vessel built in 2018, anticipated to generate approximately US$10.37 million in gross revenue during the minimum charter period.
  • Diana Shipping's current fleet consists of 36 dry bulk vessels with a combined carrying capacity of approximately 4.1 million dwt \& a weighted average age of 12.83 years.
  • The company expects to take delivery of two new methanol dual fuel Kamsarmax vessels in the second half of 2027 \& the first half of 2028.
  • The press release includes forward-looking statements regarding plans, market conditions, \& operational assumptions that may differ from actual results due to various risks.