Greece-based and New York-listed Diana Shipping, through a separate wholly-owned subsidiary, has entered into a time charter contract with SwissMarine Pte. Ltd., Singapore, for one of its capesize dry bulk vessels, the Seattle.
SwissMarine hired the 179,362-dwt capesize bulk vessel built in 2011.
The vessel is chartered for a gross charter rate of $24,500, minus a 5.00% commission paid to third parties, for a period until minimum May 1, 2027, up to maximum June 30, 2027.
The charter is expected to begin on November 26, 2025.
The Seattle was chartered to Solebay Shipping Cape Company Limited, Hong Kong, at a gross charter rate of $17,500 per day, minus a 5.00% commission paid to third parties.
The employment of Seattle is anticipated to generate approximately $12.62m of gross revenue for the minimum scheduled period of the time charter.
The company also announced that it has signed, through a limited partnership, a memorandum of agreement to sell to an unaffiliated third party, the 2016-built ultramax dry bulk vessel DSI Drammen, with delivery to the buyer latest by March 31, 2026, for a sale price of approximately $26.40m before commissions.
The vessel has now been sold to a buyer, which in accordance with Diana is “entirely unrelated to the previous one who failed to complete the transaction.”
To remind, earlier this year Diana Shipping signed, through a limited partnership, a memorandum of agreement to sell to an unaffiliated third party, the DSI Drammen, with delivery to the buyer latest by October 31, for a sale price of approximately $26.86m before commissions.
In its release on Nov. 17, the company announced that the previously disclosed memorandum of agreement for the sale of the DSI Drammen has been terminated.
The company, through its wholly-owned subsidiaries, holds a 25% interest in the limited partnership, while the remaining 75% of the limited partnership is owned by Ecobulk AS, a Norwegian entity.
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 DSI Drammen and the two vessels not yet delivered, is approximately 4.1 million dwt, with a weighted average age of 11.99 years.
