The 2018-built ultramax moves onto the new charter on September 25, in a fixture expected to generate about $10.37 million over the minimum period.
Diana Shipping Inc. (NYSE: DSX) has agreed a time charter for the ultramax bulker DSI Polaris with Dai An Ocean Shipping Company Limited, at a gross rate of $18,000 per day, less a 5.00% commission paid to third parties.
The charter is expected to begin on September 25, 2026 and runs to a minimum of May 1, 2028, with a maximum of June 30, 2028. Diana Shipping anticipates gross revenue of $10.37 million over the minimum scheduled period. The contract was concluded through a separate wholly owned subsidiary.
The vessel trades under an existing charter to Cargill Ocean Transportation (Singapore) Pte. Ltd at a gross rate of $12,250 per day, less a 4.75% commission.
The DSI Polaris is a 60,404 dwt ultramax built in 2018.
The Athens-based owner has 36 dry bulk vessels in operation, four newcastlemaxes, eight capesizes, four post-panamaxes, six kamsarmaxes, five panamaxes and nine ultramaxes. Combined carrying capacity stands at 4.1 million dwt, and a weighted average age of 12.83 years. Two methanol dual-fuel kamsarmax newbuildings are due for delivery in the second half of 2027 and the first half of 2028.
About the Company
Diana Shipping Inc. is a global provider of shipping transportation services through its ownership and bareboat charter-in of dry bulk vessels. The Company’s vessels are employed primarily on short to medium-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.
