Greece-based and New York-listed Diana Shipping has won an extension for the time charter contract with Nippon Yusen Kabushiki Kaisha, for one of its newcastlemax dry bulk vessels.

NYK chartered the 206,104-dwt ship “Los Angeles”, built in 2012, for a gross charter rate of $28,700 per day, minus a 5.00% commission paid to third parties.

Semiramis Paliou-led Diana fixed the vessel for a period until minimum October 1, 2025 up to maximum December 15, 2025.

The new charter period is expected to start on July 18 as the ship is currently chartered at a gross day rate of $17,700.

The Greek owner said the employment extension of “Los Angeles” is anticipated to bring to the company around $12.43m of gross revenue for the minimum scheduled period of the time charter.

Upon completion of the previously announced sale of the ship “Houston”, Diana Shipping’s fleet will consist of 38 dry bulk vessels, including four newcastlemax, eight capesize, five post-panamax, six kamsarmax, six panamax and nine ultramax.

The Palios family 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.

Currently, the combined carrying capacity of the company’s fleet including the vessel “Houston” and excluding the two vessels not yet delivered, is approximately 4.4 million dwt with a weighted average age of 10.92 years.