Diana Shipping Inc., a global shipping transportation services provider, has signed a charter agreement for its bulk carrier vessel, the m/v DSI Polaris, which is part of its 36-vessel fleet with a combined capacity of approximately 4.1 million dwt. The company is also expanding its fleet with two new methanol-powered vessels by 2028, aiming to align with environmental standards and enhance operational flexibility.
Diana Shipping Inc. Signs Charter Agreement for Bulk Carrier Vessel
Diana Shipping Inc., a global provider of shipping transportation services, has announced the signing of a new charter agreement for its bulk carrier vessel, the m/v DSI Polaris. This agreement is part of the company's ongoing strategy to optimize its fleet operations and maintain its position in the maritime industry.
Details of the m/v DSI Polaris
The m/v DSI Polaris is one of the company's 36 dry bulk vessels, which collectively boast a combined capacity of approximately 4.1 million deadweight tons (dwt). The vessel itself has a size of 60,404 dwt and was constructed in 2018. It forms part of a modern fleet with an average age of 11.65 years, highlighting Diana Shipping's commitment to maintaining a relatively modern fleet.
In addition to the m/v DSI Polaris, Diana Shipping Inc. has announced plans to introduce two new methanol-powered vessels by 2028, reflecting its strategy to enhance fleet capabilities and align with evolving environmental standards.
Expanding Fleet Capabilities
The charter agreement for the m/v DSI Polaris follows the recent signing of another charter for the m/v Ismene, a larger vessel with a size of 77,901 dwt, built in 2013. This charter is expected to commence on April 26, 2025, and will last until March 20, 2026. The addition of these charters emphasizes Diana Shipping's focus on short to medium-term contracts that cater to the transportation of key commodities such as iron ore, coal, and grain.
Furthermore, Diana Shipping's fleet, which includes 5 Panamax and 9 Ultramax vessels, is set to expand with the introduction of two new Kamsarmax vessels by 2027-2028. This strategic move is designed to enhance the company's operational flexibility and capacity in the competitive dry bulk market.
Charter Agreement with Cargill Ocean Transportation
Another significant development involves the charter agreement with Cargill Ocean Transportation for the vessel m/v DSI Phoenix. This vessel, with a weight of 60,456 dwt and built in 2017, is scheduled to commence its charter on August 3, 2025. The charter period is expected to run from October 1, 2026, to November 30, 2026. This agreement underscores Diana Shipping's ability to secure partnerships with major players in the shipping industry, reinforcing its reputation as a reliable service provider.
A Modern and Versatile Fleet
Diana Shipping Inc. operates a fleet that consists of 37 dry bulk vessels following these recent charters, with an average age of approximately 11.46 years. The company's strategic focus on maintaining a modern and versatile fleet positions it well to meet the demands of the global shipping market.
With a continued emphasis on fleet optimization and expansion, Diana Shipping Inc. is well-equipped to navigate the challenges and opportunities within the maritime transportation sector.
Diana Shipping Inc. continues to enhance its fleet capabilities through strategic charters and planned acquisitions, reinforcing its position as a significant player in the global shipping industry.