Diana Shipping has added fresh period cover to its ultramax fleet after fixing two vessels on multi-year time charters at rates slightly above their previous employment.
The Athens-based owner said its 2015-built DSI Pollux has been fixed to Stone Shipping at a dayrate of $14,750, less 5% commission. The contract runs until at least January 1, 2027, and could stretch to late February 2027. The charter is due to begin on December 8, replacing the vessel’s current employment with Bunge at $14,000 per day.
Another ultramax, the 2016-built DSI Andromeda, has been fixed to Western Bulk Carriers at $14,600 per day, also less 5% commission. The fixture covers a window from April to May 2027 and is expected to start on December 7. The ship is currently on hire to Cargill at $14,000 per day with a slightly lower commission structure.
Diana said the two new contracts will bring in around $12.6m in revenue over their minimum periods. The company’s fleet stands at 36 bulk carriers ranging from newcastlemax to ultramax classes. It is also preparing to grow its kamsarmax segment with the addition of two methanol dual-fuel newbuildings due in late 2027 and early 2028.
The deals come at a time when Diana Shipping is positioning for a major leap in scale. The Semiramis Paliou-led owner holds nearly 15% of New York-listed Genco Shipping & Trading and has made a cash offer of $20.60 per share to acquire the rest of the company. If successful, the move would push Diana’s combined fleet well past 70 vessels, adding Genco’s mix of supramaxes through to newcastlemaxes under CEO John Wobensmith.