Diana Shipping Inc. Announces Time Charter Contract for m/v Myrto With NYK
Diana Shipping Inc. (NYSE: DSX) has secured a new time charter contract through its subsidiary with Nippon Yusen Kabushiki Kaisha, Tokyo, for its Kamsarmax vessel m/v Myrto. The contract features a gross charter rate of $12,000 per day (minus 5% commission) from December 23, 2024, until minimum March 1, 2026, with possible extension to May 15, 2026. The charter is expected to generate approximately $5.11 million in gross revenue for the minimum period.
The Myrto is an 82,131 dwt vessel built in 2013. DSX's current fleet comprises 38 dry bulk vessels with a combined capacity of 4.2 million dwt and an average age of 11.22 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 tempo tramite la sua filiale con Nippon Yusen Kabushiki Kaisha, Tokyo, per la sua nave Kamsarmax m/v Myrto. Il contratto prevede un canone di noleggio lordo di $12.000 al giorno (meno il 5% di commissione) dal 23 dicembre 2024 fino al 1 marzo 2026, con possibile estensione fino al 15 maggio 2026. Si prevede che il noleggio genererà circa $5,11 milioni di entrate lorde per il periodo minimo.
La Myrto è una nave di 82.131 dwt costruita nel 2013. La flotta attuale di DSX comprende 38 navi a secco con una capacità totale di 4,2 milioni di dwt e un'età media di 11,22 anni. L'azienda prevede inoltre la consegna di due navi Kamsarmax a doppio carburante a metanolo entro il 2027-2028.
Diana Shipping Inc. (NYSE: DSX) ha asegurado un nuevo contrato de tiempo fletamento a través de su subsidiaria con Nippon Yusen Kabushiki Kaisha, Tokio, para su buque Kamsarmax m/v Myrto. El contrato presenta una tarifa de fletamento bruto de $12,000 por día (menos un 5% de comisión) desde el 23 de diciembre de 2024 hasta un mínimo el 1 de marzo de 2026, con posible extensión hasta el 15 de mayo de 2026. Se espera que el fletamento genere aproximadamente $5.11 millones en ingresos brutos para el período mínimo.
La Myrto es un buque de 82,131 dwt construido en 2013. La flota actual de DSX comprende 38 buques de carga a granel seco con una capacidad combinada de 4.2 millones de dwt y una edad promedio de 11.22 años. La empresa también anticipa la entrega de dos buques Kamsarmax de combustible dual de metanol para 2027-2028.
다이애나 배송 주식회사 (NYSE: DSX)는 도쿄에 있는 일본 유센 주식회사(Nippon Yusen Kabushiki Kaisha)와 그 자회사를 통해 Kamsarmax 선박 m/v Myrto에 대한 새로운 시간 용선 계약을 체결했습니다. 계약에는 하루에 $12,000의 총 용선 요금 (5% 커미션 제외)이 포함되어 있으며, 2024년 12월 23일부터 최소 2026년 3월 1일까지 유효하며, 2026년 5월 15일까지 연장이 가능합니다. 이 용선은 최소 기간 동안 약 $5.11 백만의 총 수익을 창출할 것으로 예상됩니다.
Myrto는 2013년에 건조된 82,131 dwt의 선박입니다. DSX의 현재 함대는 4.2 백만 dwt의 총 용량을 가진 38척의 건화물 선박으로 구성되어 있으며 평균 연령은 11.22년입니다. 또한 회사는 2027-2028년까지 메탄올 이중 연료 Kamsarmax 선박 두 척의 인도를 예상하고 있습니다.
Diana Shipping Inc. (NYSE: DSX) a sécurisé un nouveau contrat de charter à temps par l'intermédiaire de sa filiale avec Nippon Yusen Kabushiki Kaisha, Tokyo, pour son navire Kamsarmax m/v Myrto. Le contrat prévoit un taux de charter brut de 12 000 $ par jour (moins 5 % de commission) du 23 décembre 2024 jusqu'au minimum 1er mars 2026, avec une possible extension jusqu'au 15 mai 2026. Le charter devrait générer environ 5,11 millions $ de revenus bruts pour la période minimale.
Le Myrto est un navire de 82 131 dwt construit en 2013. La flotte actuelle de DSX comprend 38 navires de vrac secs avec une capacité totale de 4,2 millions de dwt et une âge moyen de 11,22 ans. L'entreprise anticipe également la livraison de deux navires Kamsarmax à double carburant au méthanol d'ici 2027-2028.
Diana Shipping Inc. (NYSE: DSX) hat über ihre Tochtergesellschaft einen neuen Zeitchartervertrag mit Nippon Yusen Kabushiki Kaisha aus Tokio für ihr Kamsarmax-Schiff m/v Myrto gesichert. Der Vertrag sieht einen brutto Charterpreis von $12.000 pro Tag vor (abzüglich einer Provision von 5%) vom 23. Dezember 2024 bis mindestens 1. März 2026, mit möglicher Verlängerung bis zum 15. Mai 2026. Es wird erwartet, dass der Chartervertrag für die Mindestlaufzeit etwa $5,11 Millionen an Bruttoeinnahmen generiert.
Die Myrto ist ein 82.131 dwt Schiff, das 2013 gebaut wurde. Die aktuelle Flotte von DSX besteht aus 38 Schüttgutschiffen mit einer Gesamtkapazität von 4,2 Millionen dwt und einem Durchschnittsalter von 11,22 Jahren. Das Unternehmen erwartet auch die Lieferung von zwei methanolbefeuerten Kamsarmax-Schiffen bis 2027-2028.
- Secured new time charter contract generating $5.11 million minimum gross revenue
- Fleet expansion with two methanol dual fuel vessels expected by 2027-2028
- Large diversified fleet of 38 vessels with 4.2 million dwt capacity
- 5% commission payment reduces actual revenue from charter contract
- Fleet's weighted average age of 11.22 years indicates aging assets
Insights
The new time charter contract for the m/v Myrto with NYK represents a strategic move in the current dry bulk market conditions. The
The timing is particularly noteworthy as Kamsarmax rates have been under pressure. NYK's willingness to commit to a medium-term contract signals their confidence in potential market recovery. Diana's fleet of 38 vessels maintains significant market presence, with the upcoming methanol-ready newbuilds positioning them well for future environmental regulations. The
For the average investor: Think of this like signing a tenant for your rental property - Diana has secured a reliable renter (NYK) for their ship at a fair market rate, providing steady income for the next 15+ months. The deal reduces uncertainty in future earnings, though the rate reflects current challenging market conditions.
ATHENS, Greece, Dec. 20, 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 Kamsarmax dry bulk vessels, the m/v Myrto. The gross charter rate is US
The “Myrto” is an 82,131 dwt Kamsarmax dry bulk vessel built in 2013.
The employment of “Myrto” is anticipated to generate approximately US
Diana Shipping Inc.’s fleet currently consists 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, excluding the two vessels not yet delivered, is approximately 4.2 million dwt with a weighted average age of 11.22 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 daily charter rate for DSX's m/v Myrto vessel in the new contract?
How much revenue will DSX generate from the Myrto charter contract?
What is the duration of DSX's new charter contract for m/v Myrto?
How many vessels are in Diana Shipping's current fleet?
When will DSX receive its new methanol dual fuel vessels?
