Diana Shipping Inc. Announces Time Charter Contract for m/v New York With SwissMarine
Diana Shipping Inc. (NYSE: DSX) has secured a new time charter contract with SwissMarine Pte. for its Capesize vessel m/v New York. The contract features a split rate structure: US$6,300 per day for the first trip and US$17,600 per day for the remaining period, both minus a 5% third-party commission. The charter will run from January 12, 2025, until minimum January 15, 2026, with a possible extension to March 30, 2026.
The 177,773 dwt vessel, built in 2010, is expected to generate approximately US$6.03 million in gross revenue for the minimum scheduled period. Diana Shipping's current fleet comprises 38 dry bulk vessels with a combined capacity of 4.2 million dwt and an average age of 11.28 years. The company also has two methanol dual fuel Kamsarmax vessels on order for delivery in 2027-2028.
Diana Shipping Inc. (NYSE: DSX) ha ottenuto un nuovo contratto di noleggio temporaneo con SwissMarine Pte. per la sua nave Capesize m/v New York. Il contratto prevede una struttura tariffaria scaglionata: US$6,300 al giorno per il primo viaggio e US$17,600 al giorno per il periodo rimanente, entrambi al netto di una commissione del 5% per terze parti. Il noleggio durerà dal 12 gennaio 2025 fino a un minimo del 15 gennaio 2026, con un'eventuale estensione fino al 30 marzo 2026.
La nave di 177,773 dwt, costruita nel 2010, dovrebbe generare circa US$6.03 milioni di ricavi lordi per il periodo minimo programmato. La flotta attuale di Diana Shipping comprende 38 navi per carichi sfusi secche con una capacità combinata di 4.2 milioni di dwt e un'età media di 11,28 anni. L'azienda ha inoltre ordinato due navi Kamsarmax dual fuel a metanolo, la cui consegna è prevista per il 2027-2028.
Diana Shipping Inc. (NYSE: DSX) ha asegurado un nuevo contrato de fletamento por tiempo con SwissMarine Pte. para su buque Capesize m/v New York. El contrato presenta una estructura de tarifas escalonadas: US$6,300 por día para el primer viaje y US$17,600 por día para el período restante, ambos menos una comisión del 5% para terceros. El fletamento se llevará a cabo desde el 12 de enero de 2025 hasta al menos el 15 de enero de 2026, con una posible extensión hasta el 30 de marzo de 2026.
El buque de 177,773 dwt, construido en 2010, se espera que genere aproximadamente US$6.03 millones en ingresos brutos para el período mínimo programado. La flota actual de Diana Shipping consta de 38 buques de carga seca con una capacidad combinada de 4.2 millones de dwt y una edad promedio de 11.28 años. La compañía también tiene en orden dos buques Kamsarmax de combustible dual a metanol para entrega en 2027-2028.
다이애나 해운 주식회사 (NYSE: DSX)는 스위스 해운사 SwissMarine Pte.와 함께 Capesize 선박 m/v New York에 대한 새로운 시간 임대 계약을 체결했습니다. 이 계약은 분할 요금 구조를 특징으로 하며: 첫 번째 여행에는 하루에 US$6,300, 나머지 기간에는 하루에 US$17,600를 지급하며, 둘 다 5%의 제3자 수수료를 제외합니다. 임대는 2025년 1월 12일부터 최소한 2026년 1월 15일까지 진행되며, 2026년 3월 30일까지 연장이 가능합니다.
2010년에 건조된 177,773 dwt의 선박은 최소 예정 기간 동안 약 US$6.03 백만의 총 수익을 생성할 것으로 예상됩니다. 다이애나 해운의 현재 선대는 총 38척의 건화물선으로 구성되어 있으며, 총 420만 dwt의 용량과 평균 11.28년의 연령을 가지고 있습니다. 또한 이 회사는 2027-2028년 인도를 위해 메탄올 이중 연료 Kamsarmax 선박 2척을 주문했습니다.
Diana Shipping Inc. (NYSE: DSX) a obtenu un nouveau contrat de charte à temps avec SwissMarine Pte. pour son navire Capesize m/v New York. Le contrat présente une structure tarifaire échelonnée : 6 300 USD par jour pour le premier voyage et 17 600 USD par jour pour la période restante, tous deux moins une commission de 5 % pour les tiers. La charte se déroulera du 12 janvier 2025 jusqu'au minimum le 15 janvier 2026, avec une éventuelle prolongation jusqu'au 30 mars 2026.
Le navire de 177 773 dwt, construit en 2010, devrait générer environ 6,03 millions USD de revenus bruts pour la période minimale prévue. La flotte actuelle de Diana Shipping comprend 38 navires de vrac sec avec une capacité combinée de 4,2 millions de dwt et un âge moyen de 11,28 ans. L'entreprise a également commandé deux navires Kamsarmax à moteur dual à méthanol pour une livraison prévue en 2027-2028.
Diana Shipping Inc. (NYSE: DSX) hat einen neuen Zeitchartervertrag mit SwissMarine Pte. für ihr Capesize-Schiff m/v New York gesichert. Der Vertrag umfasst eine gestaffelte Preisstruktur: US$6,300 pro Tag für die erste Fahrt und US$17,600 pro Tag für den verbleibenden Zeitraum, jeweils abzüglich einer 5%igen Provision für Dritte. Der Charter läuft vom 12. Januar 2025 bis mindestens 15. Januar 2026, mit einer möglichen Verlängerung bis zum 30. März 2026.
Das 177,773 dwt schwere Schiff, das 2010 gebaut wurde, wird voraussichtlich etwa US$6.03 Millionen an Bruttoeinnahmen für den minimalen geplanten Zeitraum erwirtschaften. Die aktuelle Flotte von Diana Shipping umfasst 38 Schüttgutschiffe mit einer Gesamtkapazität von 4,2 Millionen dwt und einem Durchschnittsalter von 11,28 Jahren. Das Unternehmen hat außerdem zwei methanolbetriebene Kamsarmax-Schiffe in Auftrag gegeben, die 2027-2028 ausgeliefert werden sollen.
- Secured minimum US$6.03 million gross revenue from the New York vessel charter
- Higher rate of US$17,600 per day for majority of charter period
- Fleet expansion with two eco-friendly methanol dual fuel vessels on order
- Low initial charter rate of US$6,300 per day for first trip
- 5% commission reducing actual revenue
- Aging fleet with average age of 11.28 years
Insights
The new time charter contract for the m/v New York reveals interesting market dynamics in the Capesize sector. The dual-rate structure (
The weighted average age of DSX's fleet at 11.28 years is relatively mature for the industry, though the upcoming addition of two methanol dual-fuel Kamsarmax vessels demonstrates a progressive shift toward more environmentally compliant tonnage. The 4.2M dwt fleet capacity positions Diana Shipping as a mid-sized player with a diversified vessel portfolio across six vessel classes, reducing exposure to segment-specific volatility.
In simpler terms: Think of this like signing a lease where you pay less for the first month but higher rent afterward. Diana Shipping has locked in a guaranteed income stream for at least a year, which helps stabilize their business in the often volatile shipping market. They're also planning ahead by ordering newer, cleaner ships while maintaining a good mix of different sized vessels - essentially not putting all their eggs in one basket.
The contract structure reflects current market conditions in the Capesize sector. The initial
The minimum duration extending to January 2026 provides DSX with important medium-term revenue visibility during a period of potential market uncertainty. The vessel's specifications (177,773 dwt) and age (built 2010) make it a competitive asset in the Capesize segment, though it's approaching the age where increased maintenance costs typically begin to impact operating margins.
For the average investor: This deal shows Diana Shipping's ability to secure steady income even in challenging market conditions. The company is essentially trading a lower initial rate for longer-term stability - similar to accepting a slightly lower salary for a longer-term employment contract with good benefits. The fact that they've locked in this rate until early 2026 helps protect them against market downturns.
ATHENS, Greece, Jan. 10, 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 SwissMarine Pte. Ltd., Singapore, for one of its Capesize dry bulk vessels, the m/v New York. The gross charter rate is US
The “New York” is a 177,773 dwt Capesize dry bulk vessel built in 2010.
The employment of “New York” 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 11.28 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 are the charter rates for DSX's m/v New York vessel with SwissMarine?
How much revenue will DSX generate from the m/v New York charter contract?
When does DSX's new charter contract for m/v New York begin and end?
How many vessels are in Diana Shipping's current fleet as of January 2025?
When will DSX receive its new methanol dual fuel vessels?
