Greece-based and New York-listed Diana Shipping, through a separate wholly-owned subsidiary, has entered into a time charter contract with Dampskibsselskabet Norden A/S, for one of its capesize dry bulk vessels, the Santa Barbara.
Norden hired the 179,426-dwt capesize bulk vessel built in 2015.
The vessel is chartered for a gross charter rate of $25,500, minus a 5.00% commission paid to third parties, for a period until minimum March 1, 2027, up to maximum April 30, 2027.
The charter is expected to begin on November 29, 2025.
The Santa Barbara is currently chartered to Mitsui O.S.K. Lines at a gross charter rate of $22,000 per day, minus a 5.00% commission paid to third parties.
The employment of Santa Barbara is anticipated to generate approximately $11.48m of gross revenue for the minimum scheduled period of the time charter.
Diana Shipping Inc.’s fleet currently consists of 36 dry bulk vessels (4 newcastlemax, 8 capesize, 4 post-panamax, 6 kamsarmax, 5 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.
Currently, the combined carrying capacity of the company’s fleet, excluding the two vessels not yet delivered, is approximately 4.1 million dwt, with a weighted average age of 11.96 years.
