Diana Shipping Secures New Time Charter for m/v Leto
Ticker: DSX-WT · Form: 6-K · Filed: Apr 29, 2024 · CIK: 1318885
Sentiment: neutral
Topics: charter-agreement, dry-bulk, shipping
TL;DR
Diana Shipping inks new charter for m/v Leto with ASL Bulk Shipping.
AI Summary
Diana Shipping Inc. announced on April 29, 2024, that it has entered into a time charter contract for its Panamax dry bulk vessel, the m/v Leto, with ASL Bulk Shipping Limited. This contract was secured through a wholly-owned subsidiary of Diana Shipping Inc.
Why It Matters
This new charter agreement provides Diana Shipping with a new revenue stream and demonstrates continued demand for its dry bulk vessels in the current market.
Risk Assessment
Risk Level: low — The filing is a routine report of a new charter agreement, which is a standard business operation for a shipping company.
Key Players & Entities
- Diana Shipping Inc. (company) — Registrant
- ASL Bulk Shipping Limited (company) — Charterer
- m/v Leto (company) — Vessel
- April 29, 2024 (date) — Announcement Date
FAQ
What type of vessel is the m/v Leto?
The m/v Leto is a Panamax dry bulk vessel.
Who is the counterparty to the time charter contract?
The counterparty is ASL Bulk Shipping Limited.
On what date was the announcement made?
The announcement was made on April 29, 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 is the filing type?
This is a Report of Foreign Private Issuer on Form 6-K.
Filing Stats: 1,045 words · 4 min read · ~3 pages · Grade level 14 · Accepted 2024-04-29 16:58:14
Key Financial Figures
- $16,000 — e m/v Leto. The gross charter rate is US$16,000 per day, minus a 5% commission paid to
- $4.75 million — anticipated to generate approximately US$4.75 million of gross revenue for the minimum schedu
Filing Documents
- d11040666_6-k.htm (6-K) — 24KB
- 0000919574-24-002688.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 29, 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 LETO WITH ASL ATHENS, GREECE, April 29, 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 ASL Bulk Shipping Limited, for one of its Panamax dry bulk vessels, the m/v Leto. The gross charter rate is US$16,000 per day, minus a 5% commission paid to third parties, for a period until minimum March 1, 2025 up to maximum April 30, 2025. The charter is expected to commence on May 2, 2024. The "Leto" is a 81,297 dwt Panamax dry bulk vessel built in 2010. The employment of "Leto" is anticipated to generate approximately US$4.75 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 half of 2027 and the first half of 2028