Diana Shipping Inc. Announces Time Charter Contract for m/v Santa Barbara With Mitsui O.S.K. Lines
Diana Shipping Inc. (NYSE: DSX) has secured a new time charter contract with Mitsui O.S.K. Lines, for its Capesize vessel m/v Santa Barbara. The contract features a gross charter rate of $22,000 per day (minus 5% commission) from December 28, 2024, until minimum October 20, 2025. This represents an increase from the previous rate of $21,250 with Smart Gain Shipping Co.
The 179,426 dwt vessel, built in 2015, is expected to generate approximately $6.42 million in gross revenue for the minimum scheduled period. Diana Shipping's fleet currently 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 stipulato un nuovo contratto di noleggio a lungo termine con Mitsui O.S.K. Lines, per la sua nave Capesize m/v Santa Barbara. Il contratto prevede una tariffa di noleggio lordo di $22,000 al giorno (meno il 5% di commissione) dal 28 dicembre 2024 fino al minimo del 20 ottobre 2025. Questo rappresenta un aumento rispetto alla tariffa precedente di $21,250 con Smart Gain Shipping Co.
La nave di 179,426 dwt, costruita nel 2015, è prevista generare circa $6.42 milioni di entrate lorde per il periodo minimo programmato. La flotta di Diana Shipping attualmente comprende 38 navi per il trasporto di merci alla rinfusa secca, 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 fletamento a tiempo con Mitsui O.S.K. Lines, para su buque Capesize m/v Santa Barbara. El contrato presenta una tarifa de fletamento bruto de $22,000 por día (menos el 5% de comisión) desde el 28 de diciembre de 2024, hasta al menos el 20 de octubre de 2025. Esto representa un aumento respecto a la tarifa anterior de $21,250 con Smart Gain Shipping Co.
El buque de 179,426 dwt, construido en 2015, se espera que genere aproximadamente $6.42 millones en ingresos brutos durante el período mínimo programado. La flota de Diana Shipping actualmente comprende 38 buques de carga seca con una capacidad total de 4.2 millones de dwt y una edad promedio de 11.22 años. La compañía también anticipa la entrega de dos buques Kamsarmax de dual combustible de metanol para 2027-2028.
다이애나 쉬핑 주식회사 (NYSE: DSX)는 미쓰이 O.S.K. 라인과 함께 그녀의 케이프사이즈 선박 m/v 산타 바르바라에 대한 새로운 시간 용선 계약을 체결했습니다. 이 계약은 2024년 12월 28일부터 최소 2025년 10월 20일까지 일일 $22,000의 총 용선 요금 (5% 수수료 제외)을 특징으로 합니다. 이는 Smart Gain Shipping Co.와의 이전 요금인 $21,250에서 증가한 것입니다.
2015년에 건조된 179,426 dwt 선박은 최소 예정 기간 동안 약 $6.42 백만의 총 수익을 생성할 것으로 예상됩니다. 다이애나 쉬핑의 함대는 현재 38척의 건화물 선박으로 구성되어 있으며, 총 용량은 4.2백만 dwt이고 평균 나이는 11.22년입니다. 또한 회사는 2027-2028년까지 두 개의 메탄올 이중 연료 카마르막스 선박의 인도를 예상하고 있습니다.
Diana Shipping Inc. (NYSE: DSX) a obtenu un nouveau contrat de charter à temps avec Mitsui O.S.K. Lines, pour son navire Capesize m/v Santa Barbara. Le contrat prévoit un taux de charter brut de 22 000 $ par jour (moins 5 % de commission) à partir du 28 décembre 2024 jusqu'au minimum 20 octobre 2025. Cela représente une augmentation par rapport au taux précédent de 21 250 $ avec Smart Gain Shipping Co.
Le navire de 179 426 dwt, construit en 2015, devrait générer environ 6,42 millions $ de revenus bruts pour la période minimale prévue. La flotte de Diana Shipping comprend actuellement 38 navires de vrac sec avec une capacité combinée de 4,2 millions de dwt et un âge moyen de 11,22 ans. L'entreprise attend 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 Mitsui O.S.K. Lines für sein Capesize-Schiff m/v Santa Barbara gesichert. Der Vertrag sieht eine brutto Charterrate von $22,000 pro Tag (abzüglich 5% Provision) vor, und zwar vom 28. Dezember 2024 bis mindestens 20. Oktober 2025. Dies stellt einen Anstieg gegenüber dem vorherigen Satz von $21,250 mit Smart Gain Shipping Co. dar.
Das Schiff mit 179.426 dwt, das 2015 gebaut wurde, soll voraussichtlich etwa $6.42 Millionen an Bruttoeinnahmen für den Mindestzeitraum generieren. Die Flotte von Diana Shipping umfasst derzeit 38 Schüttgutschiffe mit einer Gesamtkapazität von 4,2 Millionen dwt und einem durchschnittlichen Alter von 11,22 Jahren. Das Unternehmen rechnet außerdem mit der Lieferung von zwei methanolbetriebene Kamsarmax-Schiffen bis 2027-2028.
- Secured higher charter rate of $22,000/day vs previous $21,250/day
- Expected gross revenue of $6.42 million for minimum charter period
- Contract with established industry player Mitsui O.S.K. Lines
- None.
Insights
The new charter contract for the Santa Barbara represents a modest
The charter with Mitsui O.S.K. Lines, a reputable Japanese shipping company, reduces counterparty risk. While the rate increase is modest, it reflects current market conditions and provides earnings visibility. The company's diversified fleet of 38 vessels across various size segments helps mitigate market volatility, with Capesize vessels like Santa Barbara typically commanding premium rates in the dry bulk sector.
This charter renewal indicates stability in the dry bulk shipping market, particularly in the Capesize segment. The slight uptick in daily rates suggests a moderately positive market environment, though not showing the dramatic increases seen in previous cycles. The contract's timing, extending through most of 2025, positions Diana Shipping to maintain steady revenue streams during a period of potential market uncertainty.
The company's fleet profile, with a balanced mix across vessel sizes and an average age of 11.22 years, remains competitive. The future addition of methanol dual-fuel vessels aligns with industry trends toward cleaner shipping solutions, potentially commanding premium rates from environmentally conscious charterers. This strategic positioning could enhance Diana's market competitiveness in the evolving regulatory landscape.
ATHENS, Greece, Dec. 18, 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 Mitsui O.S.K. Lines, Ltd., for one of its Capesize dry bulk vessels, the m/v Santa Barbara. The gross charter rate is US
The “Santa Barbara” is a 179,426 dwt Capesize dry bulk vessel built in 2015.
The employment of “Santa Barbara” 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 new charter rate for DSX's Santa Barbara vessel with Mitsui O.S.K. Lines?
How much revenue will DSX generate from the Santa Barbara charter contract?
When does DSX's new charter contract for Santa Barbara commence?
What is the duration of DSX's new Santa Barbara charter contract?
How does the new charter rate compare to Santa Barbara's previous contract?
