Diana Shipping Inc. Announces Time Charter Contract for m/v Leto with Cargill

Core Viewpoint - Diana Shipping Inc. has entered into a time charter contract with Cargill International SA for its Panamax dry bulk vessel, the m/v Leto, at a gross charter rate of US$12,750 per day, expected to generate approximately US$5.93 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 Leto is set to commence on March 31, 2025, and will last until at least July 16, 2026, with a maximum end date of September 16, 2026 [1]. - The charter rate is subject to a 4.75% commission paid to third parties [1]. Group 2: Fleet Information - Diana Shipping Inc. currently operates a fleet of 37 dry bulk vessels, including various types such as Newcastlemax, Capesize, and Panamax [3]. - The total carrying capacity of the fleet, excluding two vessels not yet delivered, is approximately 4.1 million deadweight tons (dwt), with a weighted average age of 11.40 years [3]. - The company expects to take delivery of two new methanol dual fuel Kamsarmax dry bulk vessels by the second half of 2027 and the first half of 2028 [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].