Diana Shipping Inc. has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Stone Shipping Ltd, for one of its ultramax dry bulk vessels, the m/v DSI Polaris.
The gross charter rate is US$15 400/d, minus a 5.00% commission paid to third parties, for a period until minimum 1 June 2025 up to maximum 15 August 2025. The charter commenced retroactively as of 20 July 2024. The m/v DSI Polaris was chartered, as previously announced, to ASL Bulk Marine Ltd, at a gross charter rate of US$13 100/d, minus a 5.00% commission paid to third parties.
The DSI Polaris is a 60 404 DWT ultramax dry bulk vessel built in 2018.
The employment of DSI Polaris is anticipated to generate approximately US$4.76 million of gross revenue for the minimum scheduled period of the time charter.