Diana Shipping Inc. Announces Time Charter Contract for m/v G. P. Zafirakis with NYK Line
Diana Shipping Inc. (NYSE: DSX) has announced a new time charter contract for its Capesize dry bulk vessel, m/v G. P. Zafirakis, with Nippon Yusen Kabushiki Kaisha, Tokyo. The contract offers a gross charter rate of $26,800 per day, minus a 5% commission, for a period of 23-26 months starting September 9, 2024. This new charter is expected to generate approximately $18.49 million in gross revenue for the minimum scheduled period.
The m/v G. P. Zafirakis, a 179,492 dwt vessel built in 2014, was previously chartered at a lower rate of $17,000 per day. Upon completion of a previously announced vessel sale, Diana Shipping's fleet will consist of 38 dry bulk vessels with a combined carrying capacity of about 4.4 million dwt and an average age of 11.06 years. The company also anticipates the delivery of two methanol dual fuel new-building Kamsarmax vessels by 2028.
Diana Shipping Inc. (NYSE: DSX) ha annunciato un nuovo contratto di noleggio a tempo per la sua nave da carico dry bulk Capesize, m/v G. P. Zafirakis, con Nippon Yusen Kabushiki Kaisha, Tokyo. Il contratto offre una tariffa di noleggio lorda di $26.800 al giorno, meno una commissione del 5%, per un periodo di 23-26 mesi a partire dal 9 settembre 2024. Si prevede che questo nuovo noleggio genererà circa $18,49 milioni di entrate lorde per il periodo programmato minimo.
La m/v G. P. Zafirakis, una nave di 179.492 dwt costruita nel 2014, era precedentemente noleggiata a un tasso più basso di $17.000 al giorno. Una volta completata la vendita precedentemente annunciata della nave, la flotta di Diana Shipping consisterà di 38 navi dry bulk con una capacità di carico complessiva di circa 4,4 milioni di dwt e un'età media di 11,06 anni. L'azienda prevede anche la consegna di due nuove navi Kamsarmax a doppio carburante a metanolo entro il 2028.
Diana Shipping Inc. (NYSE: DSX) ha anunciado un nuevo contrato de fletamento por tiempo para su buque de carga seca Capesize, m/v G. P. Zafirakis, con Nippon Yusen Kabushiki Kaisha, Tokio. El contrato ofrece una tarifa bruta de fletamento de $26,800 por día, menos una comisión del 5%, por un período de 23-26 meses que comenzará el 9 de septiembre de 2024. Se espera que este nuevo fletamento genere aproximadamente $18.49 millones en ingresos brutos para el período mínimo programado.
El m/v G. P. Zafirakis, un buque de 179,492 dwt construido en 2014, fue fletado anteriormente a una tarifa más baja de $17,000 por día. Al completar la venta de buques anunciada anteriormente, la flota de Diana Shipping constará de 38 buques de carga seca con una capacidad de carga total de aproximadamente 4.4 millones de dwt y una edad promedio de 11.06 años. La empresa también anticipa la entrega de dos nuevos barcos Kamsarmax de doble combustible de metanol para 2028.
다이애나 쉬핑 주식회사 (NYSE: DSX)는 일본의 니폰 유센 가부시키 가이샤와 함께 2024년 9월 9일부터 시작되는 23-26개월 기간의 계약에 따라 Capesize 드라이 벌크 선박 m/v G. P. Zafirakis에 대한 새로운 시간 시간 차터 계약을 발표했습니다. 이 계약은 일일 26,800 달러의 총 차터 요금에서 5% 수수료를 제외한 금액을 제안합니다. 이 새로운 차터는 최소 예정 기간 동안 약 1849만 달러의 총 수익을 생성할 것으로 예상됩니다.
2014년에 건조된 179,492 dwt의 m/v G. P. Zafirakis는 이전에 하루 $17,000의 더 낮은 요율로 차터되었습니다. 이전에 발표된 선박 판매가 완료되면, 다이애나 쉬핑의 선대는 38척의 드라이 벌크 선박으로 구성되어 있으며 총 적재 용량은 약 440만 dwt, 평균 연령은 11.06년입니다. 이 회사는 또한 2028년까지 두 대의 메탄올 이중 연료 Kamsarmax 선박의 배송을 예상하고 있습니다.
Diana Shipping Inc. (NYSE: DSX) a annoncé un nouveau contrat de charter temps pour son navire de transport de vrac sec Capesize, le m/v G. P. Zafirakis, avec Nippon Yusen Kabushiki Kaisha, Tokyo. Le contrat propose un taux de charter brut de 26 800 $ par jour, moins une commission de 5 %, pour une période de 23 à 26 mois à partir du 9 septembre 2024. Ce nouveau charte devrait générer environ 18,49 millions de dollars de revenus bruts pour la période minimale programmée.
Le m/v G. P. Zafirakis, un navire de 179 492 dwt construit en 2014, avait précédemment été affrété à un tarif inférieur de 17 000 $ par jour. À l'issue de la vente de navires précédemment annoncée, la flotte de Diana Shipping comptera 38 navires de vrac sec avec une capacité de charge combinée d'environ 4,4 millions de dwt et un âge moyen de 11,06 ans. L'entreprise prévoit également la livraison de deux nouveaux navires Kamsarmax à double carburant au méthanol d'ici 2028.
Diana Shipping Inc. (NYSE: DSX) hat einen neuen Zeitchartervertrag für ihr Capesize-Trockengutschiff, die m/v G. P. Zafirakis, mit Nippon Yusen Kabushiki Kaisha, Tokio, angekündigt. Der Vertrag bietet einen brutto Charterpreis von 26.800 $ pro Tag, abzüglich einer Provision von 5%, für einen Zeitraum von 23-26 Monaten, beginnend am 9. September 2024. Es wird erwartet, dass dieser neue Chartervertrag ungefähr 18,49 Millionen $ an Bruttoeinnahmen für den minimalen geplanten Zeitraum generiert.
Die m/v G. P. Zafirakis, ein 179.492 dwt Schiff, das 2014 gebaut wurde, wurde zuvor zu einem niedrigeren Satz von 17.000 $ pro Tag gechartert. Nach Abschluss eines zuvor angekündigten Schiffverkaufs wird die Flotte von Diana Shipping aus 38 Trockengutschiffen bestehen, die zusammen eine Tragfähigkeit von etwa 4,4 Millionen dwt und ein Durchschnittsalter von 11,06 Jahren haben. Das Unternehmen plant außerdem die Lieferung von zwei neuen Kamsarmax-Schiffen mit Methanol-Dualbetrieb bis 2028.
- New time charter contract at $26,800 per day, a significant increase from the previous $17,000 per day
- Expected gross revenue of $18.49 million for the minimum charter period
- Fleet expansion with two methanol dual fuel new-building Kamsarmax vessels expected by 2028
- Reduction in fleet size from 39 to 38 vessels due to the sale of m/v Houston
Insights
This time charter contract for the m/v G. P. Zafirakis represents a significant improvement in market conditions for Diana Shipping. The new gross charter rate of
The minimum 23-month contract duration provides Diana with stable cash flow, estimated at
Diana's fleet optimization strategy, including the sale of m/v Houston and the addition of methanol dual fuel vessels, demonstrates a forward-thinking approach to market demands and environmental regulations. This positions the company well for future market shifts and potential regulatory changes in the shipping industry.
The new charter contract for m/v G. P. Zafirakis represents a significant financial boost for Diana Shipping. The
This improved rate will positively impact Diana's cash flow and profitability. Assuming similar cost structures, the majority of this increase should flow directly to the bottom line. The long-term nature of the contract also provides earnings visibility for investors through 2026, reducing near-term market risk.
Investors should monitor how this contract, along with Diana's fleet changes, affects the company's overall financial performance, particularly its EBITDA and net income margins. The addition of methanol dual fuel vessels, while potentially capital intensive, could lead to long-term cost savings and improved charter rates, further enhancing the company's financial position.
ATHENS, Greece, Aug. 26, 2024 (GLOBE NEWSWIRE) -- 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 Nippon Yusen Kabushiki Kaisha, Tokyo, for one of its Capesize dry bulk vessels, the m/v G. P. Zafirakis. The gross charter rate is US
The “G. P. Zafirakis” is an 179,492 dwt Capesize dry bulk vessel built in 2014.
The employment of “G. P. Zafirakis” is anticipated to generate approximately US
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 11.06 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 a 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.
Cautionary Statement Regarding Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.
The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,” “should,” “expect,” “pending” and similar expressions identify forward-looking statements.
The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, Company management’s examination of historical operating trends, data contained in the Company’s records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond the Company’s control, the Company cannot assure you that it will achieve or accomplish these expectations, beliefs or projections.
In addition to these important factors, other important factors that, in the Company’s view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for dry bulk shipping capacity, changes in the Company’s operating expenses, including bunker prices, drydocking and insurance costs, the market for the Company’s vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, including risks associated with the continuing conflict between Russia and Ukraine and related sanctions, potential disruption of shipping routes due to accidents or political events, including the escalation of the conflict in the Middle East, vessel breakdowns and instances of off-hires and other factors. Please see the Company’s filings with the U.S. Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
FAQ
What is the new charter rate for Diana Shipping's m/v G. P. Zafirakis (DSX)?
When does the new charter for DSX's m/v G. P. Zafirakis begin?
How much gross revenue is the m/v G. P. Zafirakis charter expected to generate for DSX?
What will be the size of Diana Shipping's (DSX) fleet after the sale of m/v Houston?
