Dry bulk shipping company Diana Shipping has announced it has entered into a new time charter contract with Oldendorff Carriers for the post-Panamax dry bulk vessel Electra. In a separate update, the company also announced that a previously agreed sale of the Ultramax vessel DSI Drammen has been terminated.
The 2013-built Electra, an 87,150 DWT post-Panamax, was fixed at a gross charter rate of $14,000 per day, minus a five per cent commission. The charter is expected to commence on December 4, 2025, and will run until at least December 1, 2026, up to a maximum of January 31, 2027.
The employment of the vessel is anticipated to generate approximately $5 million of gross revenue for the minimum scheduled period.
Diana Shipping also announced that the Memorandum of Agreement for the sale of the 2016-built DSI Drammen has been terminated. The sale was originally announced on September 18, 2025, for a price of $26.86 million. Diana Shipping holds a 25 per cent interest in the partnership that owns the vessel.
The company's current fleet consists of 36 dry bulk vessels. Diana Shipping also expects to take delivery of two methanol dual-fuel Kamsarmax newbuilds by the second half of 2027 and the first half of 2028.
