Diana Shipping Secures New Time Charter Contract
Ticker: DSX-WT · Form: 6-K · Filed: Jul 24, 2024 · CIK: 1318885
| Field | Detail |
|---|---|
| Company | Diana Shipping INC. (DSX-WT) |
| Form Type | 6-K |
| Filed Date | Jul 24, 2024 |
| Risk Level | low |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $15,400, $13,100, $4.76 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: charter-contract, shipping, dry-bulk
Related Tickers: DSX
TL;DR
Diana Shipping inks new charter for m/v DSI Polaris with Stone Shipping.
AI Summary
Diana Shipping Inc. announced on July 24, 2024, that it has entered into a time charter contract for its Ultramax dry bulk vessel, the m/v DSI Polaris, with Stone Shipping Ltd. This contract was secured through a separate wholly-owned subsidiary of the company.
Why It Matters
This new charter agreement indicates ongoing demand for dry bulk vessels, 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 contract, with no immediate negative financial or operational implications disclosed.
Key Players & Entities
- Diana Shipping Inc. (company) — Registrant and issuer of the report
- July 24, 2024 (date) — Date of the press release announcing the charter
- Stone Shipping Ltd (company) — Counterparty to the time charter contract
- m/v DSI Polaris (vessel) — The specific Ultramax dry bulk vessel chartered
FAQ
What type of vessel is the m/v DSI Polaris?
The m/v DSI Polaris is an Ultramax dry bulk vessel.
Who is the counterparty for the time charter contract?
The time charter contract is with Stone Shipping Ltd.
On what date was the announcement made?
The announcement was made on July 24, 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 SEC filing?
This SEC filing is a Form 6-K.
Filing Stats: 1,080 words · 4 min read · ~4 pages · Grade level 13.8 · Accepted 2024-07-24 16:40:24
Key Financial Figures
- $15,400 — SI Polaris. The gross charter rate is US$15,400 per day, minus a 5.00% commission paid
- $13,100 — e Limited, at a gross charter rate of US$13,100 per day, minus a 5.00% commission paid
- $4.76 million — anticipated to generate approximately US$4.76 million of gross revenue for the minimum schedu
Filing Documents
- d11422165_6-k.htm (6-K) — 27KB
- 0000919574-24-004084.txt ( ) — 28KB
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 24, 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 POLARIS WITH STONE SHIPPING ATHENS, GREECE, July 24, 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 Stone Shipping Ltd, for one of its Ultramax dry bulk vessels, the m/v DSI Polaris. The gross charter rate is US$15,400 per day, minus a 5.00% commission paid to third parties, for a period until minimum June 1, 2025 up to maximum August 15, 2025. The charter commenced retroactively as of July 20, 2024. The m/v DSI Polaris was chartered, as previously announced, to ASL Bulk Marine Limited, at a gross charter rate of US$13,100 per day, minus a 5.00% commission paid to third parties. The "DSI Polaris" is a 60,404 dwt Ultramax dry bulk vessel built in 2018. The employment of "DSI Polaris" is anticipated to generate approximately US$4.76 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 Capesi