Diana Shipping Inc.

05/28/2025 | Press release | Distributed by Public on 05/28/2025 14:25

DIANA SHIPPING INC. ANNOUNCES TIME CHARTER CONTRACTS FOR M/V PHILADELPHIA WITH REFINED SUCCESS AND M/V PHAIDRA WITH SWISSMARINE (Form 6-K)

DIANA SHIPPING INC. ANNOUNCES TIME CHARTER CONTRACTS
FOR M/V PHILADELPHIA WITH REFINED SUCCESS AND
M/V PHAIDRA WITH SWISSMARINE

ATHENS, GREECE, May 27, 2025 - Diana Shipping Inc. (NYSE: DSX), (the "Company"), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that through a separate wholly-owned subsidiary, it has entered into a time charter contract with Refined Success Limited, for one of its Newcastlemax dry bulk vessels, the m/v Philadelphia. The gross charter rate is US$21,500 per day, minus a 5.00% commission paid to third parties, for a period until minimum June 9, 2026 up to maximum August 8, 2026. The charter is expected to commence on May 29, 2025.

The "Philadelphia" is a 206,040 dwt Newcastlemax dry bulk vessel built in 2012.

The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with SwissMarine Pte. Ltd., Singapore, for one of its Post-Panamax dry bulk vessels, the m/v Phaidra. The gross charter rate is US$9,750 per day, minus a 5.00% commission paid to third parties, for a period until minimum January 1, 2026 up to maximum February 28, 2026. The charter is expected to commence on May 31, 2025.

The "Phaidra" is an 87,146 dwt Post-Panamax dry bulk vessel built in 2013.

The employments of "Philadelphia" and "Phaidra" are anticipated to generate approximately US$10.03 million of gross revenue for the minimum scheduled periods of the time charters.

Diana Shipping Inc.'s fleet currently consists of 37 dry bulk vessels (4 Newcastlemax, 8 Capesize, 4 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, excluding the two vessels not yet delivered, is approximately 4.1 million dwt, with a weighted average age of 11.57 years. A table describing the current Diana Shipping Inc. fleet can be found on the Company's website, www.dianashippinginc.com. Information contained on the Company's website does not constitute part of this press release.


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.

Diana Shipping Inc. published this content on May 28, 2025, and is solely responsible for the information contained herein. Distributed via SEC EDGAR on May 28, 2025 at 20:25 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at support@pubt.io