Diana announces charter agreement with Cargill

Diana Shipping has announced it has entered into a time charter contract with Cargill, for one of its Ultramax dry bulk vessels, the m/v DSI Pegasus. The charter is expected to commence on September 4, 2024.

The gross charter rate is US$15,250 per day, minus a 4.75% commission paid to third parties, for a period until a minimum of June 1, 2025, up to a maximum of August 1, 2025.

The DSI Pegasus is currently chartered, as previously announced, to Reachy Shipping, at a gross charter rate of US$14,000 per day, minus a 5.00% commission paid to third parties.

The DSI Pegasus is a 60,508 dwt Ultramax dry bulk vessel built in 2015.

The employment of DSI Pegasus is anticipated to generate approximately US$4.09 million of gross revenue for the minimum scheduled period of the time charter.

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 11.07 years.

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