Diana Shipping Secures New Charter for m/v Maia

TL;DR

Diana Shipping inks $18.5k/day charter for m/v Maia, starting Dec 8th.

AI Summary

Diana Shipping Inc. announced on December 5, 2024, that it has entered into a time charter contract for its Kamsarmax dry bulk vessel, the m/v Maia, with Paralos Shipping Pte. Ltd. This contract is for a period of 11 to 13 months, commencing on December 8, 2024. The gross charter rate is $18,500 per day, minus a 5% commission paid to third parties.

Why It Matters

This new charter agreement provides Diana Shipping with a steady revenue stream for one of its vessels, contributing to its financial stability and operational efficiency in the dry bulk market.

Risk Assessment

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

Key Numbers

• $18,500 — Daily Charter Rate (Gross rate for the m/v Maia charter)
• 11-13 months — Charter Duration (Expected length of the time charter contract)

Key Players & Entities

• Diana Shipping Inc. (company) — Registrant
• m/v Maia (company) — Vessel under charter
• Paralos Shipping Pte. Ltd. (company) — Charterer
• December 5, 2024 (date) — Announcement date
• December 8, 2024 (date) — Charter commencement date
• $18,500 (dollar_amount) — Daily charter rate

FAQ

Key Financial Figures

• $11,600 — e m/v Maia. The gross charter rate is US$11,600 per day, minus a 5.00% commission paid
• $3.75 million — anticipated to generate approximately US$3.75 million of gross revenue for the minimum schedu

Filing Documents

• d11542552_6k.htm (6-K) — 26KB
• 0000919574-24-007013.txt ( ) — 27KB

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: December 5, 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 MAIA WITH PARALOS SHIPPING ATHENS, GREECE, December 5, 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 Paralos Shipping Pte. Ltd., for one of its Kamsarmax dry bulk vessels, the m/v Maia. The gross charter rate is US$11,600 per day, minus a 5.00% commission paid to third parties, for a period until minimum November 1, 2025 up to maximum December 31, 2025. The charter is expected to commence on December 9, 2024. The "Maia" is an 82,193 dwt Kamsarmax dry bulk vessel built in 2009. The employment of "Maia" is anticipated to generate approximately US$3.75 million of gross revenue for the minimum scheduled period of the time charter. Diana Shipping Inc.'s fleet currently consists 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, respectively. As of to

View Full Filing

View this 6-K filing on SEC EDGAR