Diana Shipping Secures US$15,750/Day Panamax Charter Through May 2027
DSX•Diana Shipping Inc. signed a time charter for its 77,901 dwt Panamax vessel Ismene at US$15,750 per day minus a 5% commission from July 5, 2026 to at least May 15, 2027. This upsized rate is projected to generate about US$4.88 million gross revenue during the minimum term.
1. New Time Charter Contract
Diana Shipping’s wholly-owned subsidiary has agreed a time charter for the 77,901 dwt Panamax vessel Ismene at a gross rate of US$15,750 per day, minus a 5% third-party commission. The charter commences on July 5, 2026 and runs until a minimum of May 15, 2027, with an option to extend to July 15, 2027.
2. Revenue Impact and Rate Comparison
The new charter rate represents a 43% increase over the prior US$11,000 per day contract, and is expected to generate approximately US$4.88 million of gross revenue over the minimum charter period. This upsized rate enhances the company’s cash flow and reflects strengthened Panamax market fundamentals.
3. Fleet Profile and Future Deliveries
Diana Shipping operates a fleet of 36 dry bulk vessels totaling about 4.1 million dwt with a weighted average age of 12.58 years. The company also anticipates two methanol dual-fuel Kamsarmax newbuilds by late 2027 and early 2028, further expanding its capacity and environmental profile.
