Diana Shipping has entered into a time charter contract with Fednav International for the Ultramax dry bulk vessel DSI Pegasus.
The company expects the charter to commence on July 27 at a gross rate of $18,350 per day, minus a five per cent commission paid to third parties.
Running until at least August 15, 2027, and up to October 15, 2027, the agreement is projected by the carrier to generate approximately $6.95 million in gross revenue over the minimum term.
The 60,508 DWT vessel, which was built in 2015, is currently chartered to Cargill Ocean Transportation Singapore at a gross daily rate of $14,250, minus a 4.75 per cent commission.
Diana Shipping noted it currently operates a fleet of 36 dry bulk vessels, including four Newcastlemax, eight Capesize, four post-Panamax, six Kamsarmax, five Panamax and nine Ultramax carriers.
The fleet has a combined carrying capacity of approximately 4.1 million DWT with a weighted average age of 12.65 years.