Diana Shipping Secures US$14,500/Day Time Charter for m/v Phaidra through February 2027
Diana Shipping has agreed a time charter with Nippon Yusen for its 87,146 dwt m/v Phaidra at US$14,500/day (minus 5% commission) from February 24, 2026 to February 20, 2027. The deal ups Phaidra’s previous rate from US$9,750/day and is projected to generate about US$5.18 million gross revenue.
1. Charter Agreement with Nippon Yusen
Diana Shipping, through a wholly owned subsidiary, has entered into a time charter contract with Nippon Yusen Kabushiki Kaisha for the 87,146 dwt Post-Panamax vessel m/v Phaidra at a gross rate of US$14,500 per day, less a 5% commission. The charter is set to commence on February 24, 2026, with a minimum term ending February 20, 2027 and a maximum term extending to April 20, 2027.
2. Revenue and Rate Increase
This new rate represents a 48.7% increase from the vessel’s prior gross charter rate of US$9,750 per day, and is expected to generate approximately US$5.18 million in gross revenue over the minimum charter period. The step-up in rate reflects improving market conditions for Post-Panamax dry bulk tonnage.
3. Fleet Profile and Future Deliveries
Diana Shipping’s current fleet consists of 36 dry bulk vessels with a combined carrying capacity of about 4.1 million dwt and a weighted average vessel age of 12.22 years. The company also expects delivery of two methanol dual fuel Kamsarmax newbuildings in the second half of 2027 and the first half of 2028.