Diana Shipping Charters Vessel for $17.5K/Day

TL;DR

Diana Shipping inks $17.5K/day charter for m/v Polymnia with Reachy Shipping, starting June 7th.

AI Summary

Diana Shipping Inc. announced on June 4, 2024, that it has entered into a time charter contract for its Post-Panamax dry bulk vessel, the m/v Polymnia, with Reachy Shipping (SGP) Pte. Ltd. This contract is for a period of 11 to 13 months, commencing on June 7, 2024. The gross charter rate is $17,500 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 the m/v Polymnia, contributing to its financial performance over the next year.

Risk Assessment

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

Key Numbers

• $17,500 — Daily Charter Rate (Gross rate for the m/v Polymnia charter.)
• 11-13 months — Charter Duration (Expected length of the time charter contract.)

Key Players & Entities

• Diana Shipping Inc. (company) — Registrant
• Reachy Shipping (SGP) Pte. Ltd. (company) — Charterer
• m/v Polymnia (company) — Vessel
• June 4, 2024 (date) — Announcement Date
• June 7, 2024 (date) — Charter Commencement Date
• $17,500 (dollar_amount) — Daily Charter Rate

FAQ

Key Financial Figures

• $17,500 — v Polymnia. The gross charter rate is US$17,500 per day, minus a 5.00% commission paid
• $15,000 — Luxemburg, at a gross charter rate of US$15,000 per day, minus a 5.00% commission paid
• $7.25 million — anticipated to generate approximately US$7.25 million of gross revenue for the minimum schedu

Filing Documents

• d11066369_6k.htm (6-K) — 21KB
• 0000919574-24-003499.txt ( ) — 22KB

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: June 4, 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 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 POLYMNIA WITH REACHY ATHENS, GREECE, June 4, 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 Reachy Shipping (SGP) Pte. Ltd., for one of its Post-Panamax dry bulk vessels, the m/v Polymnia. The gross charter rate is US$17,500 per day, minus a 5.00% 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 June 8, 2024. The m/v Polymnia is currently chartered, as previously announced, to Cobelfret S.A., Luxemburg, at a gross charter rate of US$15,000 per day, minus a 5.00% commission paid to third parties. The "Polymnia" is a 98,704 dwt Post-Panamax dry bulk vessel built in 2012. The employment of "Polymnia" is anticipated to generate approximately US$7.25 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-Pan

View Full Filing

View this 6-K filing on SEC EDGAR