Diana Shipping Secures New Time Charter Contract
Ticker: DSX-WT · Form: 6-K · Filed: Apr 18, 2024 · CIK: 1318885
Sentiment: neutral
Topics: charter-contract, shipping, dry-bulk
TL;DR
Diana Shipping inks new charter for m/v P.S. Palios with Bohai Shipping.
AI Summary
Diana Shipping Inc. announced on April 18, 2024, that it has entered into a time charter contract for its Capesize dry bulk vessel, the m/v P. S. Palios, with Bohai Shipping (HEBEI) Co., Ltd. This contract was executed through a wholly-owned subsidiary of Diana Shipping Inc.
Why It Matters
This new charter agreement indicates continued demand for dry bulk shipping services, potentially contributing to Diana Shipping's revenue and operational stability.
Risk Assessment
Risk Level: low — The filing is a routine report of a new charter agreement, which is a standard business operation and does not present immediate new risks.
Key Players & Entities
- Diana Shipping Inc. (company) — Registrant and chartering company
- Bohai Shipping (HEBEI) Co., Ltd (company) — Chartering counterparty
- m/v P. S. Palios (company) — Vessel under charter
- April 18, 2024 (date) — Date of press release and contract announcement
FAQ
What type of vessel is the m/v P. S. Palios?
The m/v P. S. Palios is a Capesize dry bulk vessel.
Who is the counterparty to the time charter contract?
The counterparty is Bohai Shipping (HEBEI) Co., Ltd.
When was this contract announced?
The contract was announced on April 18, 2024.
Through which entity was the contract entered into?
The contract was entered into through a separate wholly-owned subsidiary of Diana Shipping Inc.
What form is this report filed under?
This report is filed as a Form 6-K.
Filing Stats: 1,055 words · 4 min read · ~4 pages · Grade level 12.6 · Accepted 2024-04-18 16:39:37
Key Financial Figures
- $27,150 — S. Palios. The gross charter rate is US$27,150 per day, minus a 5% commission paid to
- $14.39 million — anticipated to generate approximately US$14.39 million of gross revenue for the minimum schedu
Filing Documents
- d11033470_6-k.htm (6-K) — 24KB
- 0000919574-24-002596.txt ( ) — 25KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. DIANA SHIPPING INC. (registrant) Dated: April 18, 2024 By: /s/ Anastasios Margaronis Anastasios Margaronis President Exhibit 99.1 Corporate Contact: Ioannis Zafirakis Director, Chief Financial Officer, Chief Strategy Officer, Treasurer and Secretary Telephone: + 30-210-9470-100 Email: izafirakis@dianashippinginc.com Website: www.dianashippinginc.com X: @Dianaship For Immediate Release Investor and Media Relations: Edward Nebb Comm-Counsellors, LLC Telephone: + 1-203-972-8350 Email: enebb@optonline.net DIANA SHIPPING INC. ANNOUNCES TIME CHARTER CONTRACT FOR M/V P. S. PALIOS ATHENS, GREECE, April 18, 2024 – 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 Bohai Shipping (HEBEI) Co., Ltd, for one of its Capesize dry bulk vessels, the m/v P. S. Palios. The gross charter rate is US$27,150 per day, minus a 5% commission paid to third parties, for a period until minimum November 1, 2025 up to maximum December 31, 2025. The charter is expected to commence on May 12, 2024. The "P. S. Palios" is a 179,134 dwt Capesize dry bulk vessel built in 2013. The employment of "P. S. Palios" is anticipated to generate approximately US$14.39 million of gross revenue for the minimum scheduled period of the time charter. Upon completion of the previously announced sale of m/v Houston , Diana Shipping Inc.'s fleet will consist 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