Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Bunge SA, Geneva, for one of its Ultramax dry bulk vessels, the m/v DSI Aquarius.

The gross charter rate is US$13,300 per day, minus a 5.00% commission paid to third parties, for a period of minimum ten (10) months to about twelve (12) months. The charter is expected to commence on December 6, 2024.

The “DSI Aquarius” is a 60,309 dwt Ultramax dry bulk vessel built in 2016.

The employment of “DSI Aquarius” is anticipated to generate approximately US$3.99 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 38 dry bulk vessels: 4 Newcastlemax, 8 Capesize, 5 Post-Panamax, 6 Kamsarmax, 6 Panamax and 9 Ultramax. The Company also expects to take delivery of two methanol dual fuel new-building Kamsarmax dry bulk vessels by the second half of 2027 and the first half of 2028, respectively. As of today, the combined carrying capacity of the Company’s fleet, excluding the two vessels not yet delivered, is approximately 4.2 million dwt with a weighted average age of 11.17 years.

Diana Shipping Inc. press release