Diana Shipping Charters Vessel to Cargill
Ticker: DSX-WT · Form: 6-K · Filed: Aug 29, 2024 · CIK: 1318885
Sentiment: neutral
Topics: charter-agreement, shipping, dry-bulk
TL;DR
Diana Shipping just inked a charter deal with Cargill for the m/v DSI Pegasus.
AI Summary
Diana Shipping Inc. announced on August 29, 2024, that it has secured a time charter contract for its Ultramax dry bulk vessel, the m/v DSI Pegasus, with Cargill Ocean Transportation (Singapore) Pte. Ltd. This agreement was made through a wholly-owned subsidiary of Diana Shipping Inc.
Why It Matters
Securing a charter with a major player like Cargill indicates stable demand for Diana Shipping's services and contributes to revenue generation.
Risk Assessment
Risk Level: low — The filing is a routine report of a new charter agreement, not indicating significant new risks.
Key Players & Entities
- Diana Shipping Inc. (company) — Registrant and chartering company
- Cargill Ocean Transportation (Singapore) Pte. Ltd. (company) — Chartering party
- m/v DSI Pegasus (company) — Vessel under charter
- August 29, 2024 (date) — Date of announcement
FAQ
What type of vessel is the m/v DSI Pegasus?
The m/v DSI Pegasus is an Ultramax dry bulk vessel.
Who is the chartering party for the m/v DSI Pegasus?
The chartering party is Cargill Ocean Transportation (Singapore) Pte. Ltd.
When was this charter contract announced?
The charter contract was announced on August 29, 2024.
Through which entity was the charter contract entered into?
The charter contract was entered into through a separate wholly-owned subsidiary of Diana Shipping Inc.
What is the primary business of Diana Shipping Inc. as indicated by the filing?
Diana Shipping Inc. is involved in the deep sea foreign transportation of freight.
Filing Stats: 1,090 words · 4 min read · ~4 pages · Grade level 13.2 · Accepted 2024-08-29 16:51:09
Key Financial Figures
- $15,250 — SI Pegasus. The gross charter rate is US$15,250 per day, minus a 4.75% commission paid
- $14,000 — Pte. Ltd., at a gross charter rate of US$14,000 per day, minus a 5.00% commission paid
- $4.09 million — anticipated to generate approximately US$4.09 million of gross revenue for the minimum schedu
Filing Documents
- d11454889_6-k.htm (6-K) — 23KB
- 0000919574-24-005082.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: August 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 DSI PEGASUS WITH CARGILL OCEAN TRANSPORTATION ATHENS, GREECE, August 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 Cargill Ocean Transportation (Singapore) Pte. Ltd., for one of its Ultramax dry bulk vessels, the m/v DSI Pegasus. The gross charter rate is US$15,250 per day, minus a 4.75% commission paid to third parties, for a period until minimum June 1, 2025 up to maximum August 1, 2025. The charter is expected to commence on September 4, 2024. The m/v DSI Pegasus is currently chartered, as previously announced, to Reachy Shipping (SGP) Pte. Ltd., at a gross charter rate of US$14,000 per day, minus a 5.00% commission paid to third parties. The "DSI Pegasus" is a 60,508 dwt Ultramax dry bulk vessel built in 2015. The employment of "DSI Pegasus" is anticipated to generate approximately US$4.09 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