Athens-based dry bulk vessel owner Diana Shipping has entered into a time charter contract with Cargill Ocean Transportation for its 2018-built 60,404 dwt Ultramax bulk carrier, DSI Polaris.
The charter is expected to commence on July 1, 2025, and will run until at least July 21, 2026, with a maximum period extending to September 21, 2026. The gross charter rate is $12,250 per day, minus a 4.75 per cent commission paid to third parties.
Diana Shipping stated the employment is anticipated to generate approximately $4.66 million of gross revenue for the minimum period of the time charter.
Upon completion of a previously announced sale of another vessel, Diana Shipping’s fleet will consist of 36 dry bulk vessels, comprising four Newcastlemax, eight Capesize, four Post-Panamax, six Kamsarmax, five Panamax, and nine Ultramax bulkers.
The company said its fleet's current combined capacity is approximately 4.1 million dwt. It also expects to take delivery of two new-build methanol dual-fuel Kamsarmax vessels in 2027 and 2028.