Diana Shipping locks in US$16,200/day charter for m/v Crystalia until March 2027
Diana Shipping secured a time charter for the 77,525 dwt m/v Crystalia at US$16,200 per day (5% commission) from March 11, 2026 through March 10, 2027, with extension rights to May 10, 2027. The contract will generate approximately US$5.78 million gross revenue and adds to the company’s 36-vessel fleet totaling 4.1 million dwt.
1. Time Charter Contract Terms
Diana Shipping’s subsidiary signed a time charter for the 77,525 dwt Ice Class Panamax m/v Crystalia with SwissMarine Pte. Ltd. at US$16,200 per day minus 5% commission, starting March 11, 2026 for a minimum of one year through March 10, 2027 with extension rights to May 10, 2027. The vessel was previously chartered at US$13,900 per day under similar commission terms.
2. Financial and Fleet Implications
The new charter is expected to generate approximately US$5.78 million gross revenue over the minimum period, enhancing near-term cash flows. This contract boosts utilization of the company’s 36-vessel fleet, which has a combined carrying capacity of about 4.1 million dwt and a weighted average vessel age of 12.28 years; two methanol dual-fuel Kamsarmax vessels are due for delivery by 2028.