Diana Shipping Inc. Announces Time Charter Contract for m/v Myrsini With Cargill
Diana Shipping Inc. (NYSE: DSX) has secured a new time charter contract with Cargill International SA for its Kamsarmax vessel, m/v Myrsini. The contract specifies a gross charter rate of $13,000 per day (minus 4.75% third-party commission) from February 28, 2025, until minimum January 1, 2026, with possible extension to February 28, 2026.
The charter is expected to generate approximately $3.95 million in gross revenue for the minimum scheduled period. The Myrsini is an 82,117 dwt vessel built in 2010. Following the sale of m/v Alcmene, Diana's fleet will comprise 37 dry bulk vessels with a combined capacity of 4.2 million dwt and an average age of 11.39 years. The company also anticipates delivery of two methanol dual fuel Kamsarmax vessels by 2027-2028.
Diana Shipping Inc. (NYSE: DSX) ha ottenuto un nuovo contratto di noleggio a termine con Cargill International SA per la sua nave Kamsarmax, m/v Myrsini. Il contratto specifica un tasso di noleggio lordo di $13,000 al giorno (meno il 4.75% di commissione per terzi) dal 28 febbraio 2025 fino a un minimo del 1 gennaio 2026, con possibile estensione fino al 28 febbraio 2026.
Si prevede che il noleggio genererà circa $3.95 milioni di ricavi lordi per il periodo minimo programmato. La Myrsini è una nave di 82,117 dwt costruita nel 2010. Dopo la vendita della m/v Alcmene, la flotta di Diana comprenderà 37 navi per carichi secco con una capacità combinata di 4.2 milioni di dwt e un'età media di 11.39 anni. L'azienda prevede anche la consegna di due navi Kamsarmax a doppio carburante a metanolo entro il 2027-2028.
Diana Shipping Inc. (NYSE: DSX) ha firmado un nuevo contrato de fletamento a tiempo con Cargill International SA para su buque Kamsarmax, m/v Myrsini. El contrato especifica una tarifa de fletamento bruta de $13,000 por día (menos el 4.75% de comisión por terceros) desde el 28 de febrero de 2025 hasta un mínimo del 1 de enero de 2026, con posible extensión hasta el 28 de febrero de 2026.
Se espera que el fletamento genere aproximadamente $3.95 millones en ingresos brutos durante el período mínimo programado. La Myrsini es un buque de 82,117 dwt construido en 2010. Tras la venta del m/v Alcmene, la flota de Diana constará de 37 buques de granel seco con una capacidad combinada de 4.2 millones de dwt y una edad promedio de 11.39 años. La empresa también anticipa la entrega de dos buques Kamsarmax de combustible dual de metanol para 2027-2028.
다이애나 쉬핑 주식회사 (NYSE: DSX)는 그들의 Kamsarmax 선박인 m/v Myrsini와 함께 Cargill International SA와 새로운 용선 계약을 체결했습니다. 계약은 2025년 2월 28일부터 2026년 1월 1일까지 최소 기간 동안 일일 총 용선 요금 $13,000 (제3자 수수료 4.75% 제외)으로 명시되어 있으며, 2026년 2월 28일까지 연장이 가능합니다.
이 용선은 최소 예정 기간 동안 약 $3.95백만의 총 수익을 생성할 것으로 예상됩니다. Myrsini는 2010년에 건조된 82,117 dwt 선박입니다. m/v Alcmene의 판매 이후, 다이애나의 함대는 4.2백만 dwt의 총 용량을 가진 37척의 건화물 선박으로 구성될 것입니다. 회사는 또한 2027-2028년까지 메탄올 이중 연료 Kamsarmax 선박 두 척의 인도를 예상하고 있습니다.
Diana Shipping Inc. (NYSE: DSX) a obtenu un nouveau contrat de time charter avec Cargill International SA pour son navire Kamsarmax, le m/v Myrsini. Le contrat spécifie un taux de charter brut de 13 000 $ par jour (moins une commission de 4,75 % pour des tiers) à partir du 28 février 2025, jusqu'au minimum 1er janvier 2026, avec une possible extension jusqu'au 28 février 2026.
Le charter devrait générer environ 3,95 millions $ de revenus bruts pour la période minimale prévue. Le Myrsini est un navire de 82 117 dwt construit en 2010. Suite à la vente du m/v Alcmene, la flotte de Diana comprendra 37 navires de vrac sec avec une capacité combinée de 4,2 millions dwt et un âge moyen de 11,39 ans. L'entreprise prévoit également la livraison de deux navires Kamsarmax à double carburant au méthanol d'ici 2027-2028.
Diana Shipping Inc. (NYSE: DSX) hat einen neuen Zeitchartervertrag mit Cargill International SA für ihr Kamsarmax-Schiff, m/v Myrsini, gesichert. Der Vertrag sieht einen brutto Charterpreis von 13.000 $ pro Tag (abzüglich einer Drittanbieterprovision von 4,75 %) vor, der vom 28. Februar 2025 bis mindestens 1. Januar 2026 gilt, mit einer möglichen Verlängerung bis zum 28. Februar 2026.
Der Charter wird voraussichtlich etwa 3,95 Millionen $ an Bruttoeinnahmen für den mindestens geplanten Zeitraum generieren. Die Myrsini ist ein 82.117 dwt Schiff, das 2010 gebaut wurde. Nach dem Verkauf der m/v Alcmene wird die Flotte von Diana aus 37 Schüttgutschiffen mit einer Gesamttragfähigkeit von 4,2 Millionen dwt und einem Durchschnittsalter von 11,39 Jahren bestehen. Das Unternehmen rechnet außerdem mit der Lieferung von zwei Kamsarmax-Schiffen mit dualem Methanolantrieb bis 2027-2028.
- Secured new time charter contract generating $3.95 million minimum gross revenue
- Fleet modernization with two methanol dual fuel vessels scheduled for delivery 2027-2028
- Relatively low charter rate at $13,000 per day in current market conditions
- Aging fleet with weighted average age of 11.39 years
Insights
The new time charter contract for the Myrsini with Cargill International represents a strategic move that provides revenue visibility through early 2026. The
The partnership with Cargill, a major global commodities trader, is particularly significant as it helps maintain Diana's high-quality charterer portfolio and reduces counterparty risk. This type of contract with a blue-chip charterer typically includes favorable payment terms and operational conditions, which enhance the overall value beyond the headline charter rate.
Diana's fleet strategy reveals two important developments:
- The planned sale of m/v Alcmene and maintenance of a diverse 37-vessel fleet indicates active portfolio management
- The upcoming addition of two methanol dual-fuel Kamsarmax vessels shows forward-thinking adaptation to environmental regulations
The company's weighted average fleet age of 11.39 years positions it well in the market, balancing asset quality with operating costs. The fleet composition, spread across various vessel classes from Ultramax to Newcastlemax, provides operational flexibility and exposure to different trade routes and cargo types, helping to optimize revenue potential across market cycles.
ATHENS, Greece, Feb. 19, 2025 (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 Cargill International SA, Geneva, for one of its Kamsarmax dry bulk vessels, the m/v Myrsini. The gross charter rate is US
The “Myrsini” is a 82,117 dwt Kamsarmax dry bulk vessel built in 2010.
The employment of “Myrsini” is anticipated to generate approximately US
Upon completion of the previously announced sale of m/v Alcmene, Diana Shipping Inc.’s fleet will consist 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, including the m/v Alcmene and excluding the two vessels not yet delivered, is approximately 4.2 million dwt with a weighted average age of 11.39 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 charter rate for DSX's Myrsini vessel with Cargill?
How much revenue will DSX generate from the Myrsini charter contract?
What will be DSX's fleet size after the sale of m/v Alcmene?
When will DSX receive its new methanol dual fuel vessels?
