Diana Shipping Inc. has entered into a new time‑charter agreement with Bunge SA for its 60,309‑dwt Ultramax dry‑bulk vessel m/v DSI Altair. The charter will begin on January 17 2026 and run for a minimum of one year, ending on January 15 2027, with an optional extension to March 30 2027. The vessel will be chartered at a gross rate of $14,750 per day, less a 5 % commission to third parties, which is expected to generate roughly $5.30 million in gross revenue over the minimum period.
The agreement adds a new long‑term customer to Diana Shipping’s portfolio and reinforces the company’s disciplined chartering strategy that underpins its predictable cash‑flow model. By locking in a stable, year‑long contract, the company mitigates the volatility of spot rates that can erode earnings in the dry‑bulk market. The deal also dovetails with Diana Shipping’s broader fleet strategy, which includes the delivery of two methanol‑dual‑fuel Kamsarmax vessels in 2027 and 2028, positioning the company for future regulatory compliance and the growing demand for greener shipping solutions.
The charter rate of $14,750 per day is consistent with recent rates for the DSI Altair, which has previously been chartered at $13,800 and $15,750 per day. The one‑year minimum period provides revenue stability amid the current market’s spot‑rate volatility, while the optional extension offers flexibility to extend the partnership if market conditions remain favorable.
The transaction exemplifies Diana Shipping’s focus on long‑term, high‑quality charters with reputable clients. It strengthens the company’s balance sheet, supports its 36‑vessel fleet of 4.1 million dwt with an average age of 12.14 years, and aligns with its strategy to capture tailwinds in bulk shipping while managing headwinds from spot‑rate fluctuations.
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