Diana Shipping Secures $15k/Day Charter for m/v DSI Phoenix

TL;DR

Diana Shipping inks $15k/day charter for m/v DSI Phoenix, locking in revenue for 11-13 months.

AI Summary

Diana Shipping Inc. announced on April 25, 2024, that it has entered into a time charter contract for its Ultramax dry bulk vessel, the m/v DSI Phoenix, with Bulk Trading SA. This contract is for a period of 11 to 13 months, commencing on April 23, 2024. The gross charter rate is $15,000 per day, less a 5% commission paid to third parties.

Why It Matters

This charter agreement provides Diana Shipping with a steady revenue stream for one of its vessels, contributing to its overall financial performance in the dry bulk shipping market.

Risk Assessment

Risk Level: low — The filing is a routine operational update and does not contain significant financial or strategic risks.

Key Numbers

• $15,000 — Daily Charter Rate (Gross rate per day for the m/v DSI Phoenix.)
• 11-13 months — Charter Duration (The period for which the m/v DSI Phoenix is chartered.)

Key Players & Entities

• Diana Shipping Inc. (company) — Registrant
• Bulk Trading SA (company) — Charterer
• m/v DSI Phoenix (company) — Vessel
• $15,000 (dollar_amount) — Daily charter rate
• April 25, 2024 (date) — Announcement date
• April 23, 2024 (date) — Charter commencement date

FAQ

Key Financial Figures

• $16,500 — SI Phoenix. The gross charter rate is US$16,500 per day, minus a 5% commission paid to
• $13,250 — e Limited, at a gross charter rate of US$13,250 per day, minus a 5.00% commission paid
• $7.33 million — anticipated to generate approximately US$7.33 million of gross revenue for the minimum schedu

Filing Documents

• d11038769_6k.htm (6-K) — 22KB
• 0000919574-24-002651.txt ( ) — 23KB

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 25, 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 DSI PHOENIX WITH BULK TRADING SA ATHENS, GREECE, April 25, 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 Bulk Trading SA, for one of its Ultramax dry bulk vessels, the m/v DSI Phoenix. The gross charter rate is US$16,500 per day, minus a 5% commission paid to third parties, for a period until minimum August 1, 2025 up to maximum September 30, 2025. The charter is expected to commence on May 8, 2024. The m/v DSI Phoenix is currently chartered, as previously announced, to ASL Bulk Marine Limited, at a gross charter rate of US$13,250 per day, minus a 5.00% commission paid to third parties. The "DSI Phoenix" is a 60,456 dwt Ultramax dry bulk vessel built in 2017. The employment of "DSI Phoenix" is anticipated to generate approximately US$7.33 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

forward-looking statements

forward-looking statements. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, Company management's examination of historical operating trends, data contained in the Company's records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond the Company's control, the Company cannot assure you that it will achieve or accomplish these expectations, beliefs or projections. In addition to these important factors, other important factors that, in the Company's view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for dry bulk shipping capacity, changes in the Company's operating expenses, including bunker prices, drydocking and insurance costs, the market for the Company's vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, including risks associated with the continuing conflict between Russia and Ukraine and related sanctions, potential disruption of shipping routes due to accidents or political events, including the escalation of the conflict in the Middle East, vessel breakdowns and instances of off-hires and other factors. Please see the Company's filings with the U.S. Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties. The Company undertakes no obligatio

View Full Filing

View this 6-K filing on SEC EDGAR