Diana Shipping Inc. Announces Time Charter Contract for m/v DSI Andromeda With Cargill

Core Viewpoint - Diana Shipping Inc. has entered into a time charter contract with Cargill Ocean Transportation for its Ultramax dry bulk vessel, the m/v DSI Andromeda, at a gross charter rate of US$14,000 per day, expected to generate approximately US$3.18 million in gross revenue for the minimum scheduled period of the charter [1][2]. Group 1: Charter Agreement Details - The time charter for the m/v DSI Andromeda is set to commence on March 29, 2025, and will last until at least November 15, 2025, with a maximum end date of January 15, 2026 [1]. - The previous charter for the m/v DSI Andromeda was with Bunge SA at a gross rate of US$13,500 per day [1]. Group 2: Fleet Composition and Future Plans - Diana Shipping Inc. currently operates a fleet of 37 dry bulk vessels, including various classes such as Newcastlemax, Capesize, Post-Panamax, Kamsarmax, Panamax, and Ultramax [3]. - The company plans 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 [3]. - The total carrying capacity of the fleet, excluding the two vessels not yet delivered, is approximately 4.1 million dwt, with a weighted average age of 11.39 years [3]. Group 3: Company Overview - Diana Shipping Inc. specializes in shipping transportation services through the ownership and bareboat charter-in of dry bulk vessels, primarily engaged in short to medium-term time charters [4]. - The vessels transport a variety of dry bulk cargoes, including iron ore, coal, and grain, along global shipping routes [4].