Diana Shipping Charters Vessel to Cargill
Ticker: DSX-WT · Form: 6-K · Filed: Jul 11, 2024 · CIK: 1318885
Sentiment: neutral
Topics: charter-contract, shipping, dry-bulk
TL;DR
Diana Shipping inks new charter with Cargill for m/v Atalandi.
AI Summary
Diana Shipping Inc. announced on July 11, 2024, that it has entered into a time charter contract for its Ice Class Panamax dry bulk vessel, the m/v Atalandi, with Cargill International S.A., Geneva. This contract is for an undisclosed duration and rate, but it expands the company's fleet utilization.
Why It Matters
This charter agreement with a major player like Cargill International S.A. indicates continued demand for dry bulk shipping services and contributes to Diana Shipping's revenue stream.
Risk Assessment
Risk Level: low — The filing is a routine announcement of a charter contract, with no immediate financial distress or significant negative news.
Key Players & Entities
- Diana Shipping Inc. (company) — Registrant
- Cargill International S.A., Geneva (company) — Charterer
- m/v Atalandi (company) — Vessel
- July 11, 2024 (date) — Announcement Date
FAQ
What is the duration of the time charter contract?
The filing does not specify the duration of the time charter contract.
What is the daily charter rate for the m/v Atalandi?
The filing does not disclose the daily charter rate for the m/v Atalandi.
Which subsidiary of Diana Shipping Inc. entered into the charter contract?
The charter contract was entered into through a separate wholly-owned subsidiary of Diana Shipping Inc.
What type of vessel is the m/v Atalandi?
The m/v Atalandi is an Ice Class Panamax dry bulk vessel.
What is the purpose of this Form 6-K filing?
This Form 6-K filing is to report a press release dated July 11, 2024, announcing the time charter contract for the m/v Atalandi.
Filing Stats: 1,052 words · 4 min read · ~4 pages · Grade level 13.6 · Accepted 2024-07-11 17:08:56
Key Financial Figures
- $14,600 — v Atalandi. The gross charter rate is US$14,600 per day, minus a 4.75% commission paid
- $4.57 million — anticipated to generate approximately US$4.57 million of gross revenue for the minimum schedu
Filing Documents
- d11413484_6k.htm (6-K) — 23KB
- 0000919574-24-003998.txt ( ) — 24KB
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: July 11, 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 ATALANDI WITH CARGILL ATHENS, GREECE, July 11, 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 Cargill International S.A., Geneva, for one of its Ice Class Panamax dry bulk vessels, the m/v Atalandi. The gross charter rate is US$14,600 per day, minus a 4.75% commission paid to third parties, for a period until minimum June 1, 2025 up to maximum July 31, 2025. The charter is expected to commence on July 19, 2024. The "Atalandi" is a 77,529 dwt Ice Class Panamax dry bulk vessel built in 2014. The employment of "Atalandi" is anticipated to generate approximately US$4.57 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 t