Greece-based and New York-listed Diana Shipping Inc. has announced that through a separate wholly-owned subsidiary, it has entered into a time charter contract with Bohai Shipping (HEBEI) Co., Ltd, for one of its Capesize dry bulk vessels, the m/v “P. S. Palios”.

The gross charter rate is US$27,150 per day, minus a 5% commission paid to third parties, for a period until minimum November 1, 2025 up to maximum December 31, 2025 with the charter expected to commence on May 12, 2024.

The “P. S. Palios” is a 179,134 dwt Capesize dry bulk vessel built in 2013 at Hyundai Heavy Industries Co., LTD in South Korea.

The employment of “P. S. Palios” is anticipated to generate approximately US$14.39 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 the second half of 2027 and the first half of 2028, respectively. As of today, the combined carrying capacity of the Company’s fleet including the m/v Houston and excluding the two vessels not yet delivered, is approximately 4.4 million dwt with a weighted average age of 10.71 years, as the company informs.

Source: Diana Shipping Inc.