New York-listed Greek bulker owner Diana Shipping has entered into a time charter contract with Stone Shipping for one of its ultramax dry bulk vessels.
Stone Shipping hired the 2018-built, 60,404 dwt bulker DSI Polaris. The gross charter rate is $15,400 per day, minus a 5% commission paid to third parties, for a period until a minimum of June 1, 2025, up to a maximum of August 15, 2025.
The charter commenced retroactively as of July 20, 2024. The vessel was chartered to ASL Bulk Marine at a gross charter rate of $13,100 per day, minus a 5% commission paid to third parties.
The employment of the bulker is anticipated to generate approximately $4.76m of gross revenue for the minimum scheduled period of the time charter.
Upon completion of the previously announced sale of the Houston, Diana Shipping’s fleet will consist of 38 dry bulk vessels – four newcastlemaxes, eight capesizes, five post-panamaxes, six kamsarmaxes, six panamaxes, and nine ultramaxes.
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.
Currently, the combined carrying capacity of the fleet including the Houston and excluding the two vessels not yet delivered, is approximately 4.4m dwt with a weighted average age of 10.97 years.
