Diana Shipping Announces Delivery of the Ultramax Dry Bulk Vessel m/v DSI Aquarius


Diana Shipping Inc. Announces Delivery of the Ultramax Dry Bulk Vessel m/v DSI Aquarius and her Entry Into Time Charter Contract with Engelhart CTP.

 Diana Shipping Inc., a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, announced that, through a separate wholly-owned subsidiary, it has taken delivery of the m/v DSI Aquarius (formerly “STH Kure”), a 2016 built Ultramax dry bulk vessel of 60,309 dwt. The vessel is one of nine modern Ultramax dry bulk vessels that the Company entered into an agreement to purchase in August 2022.

The Company also announced that, through the same wholly-owned subsidiary, it entered into a time charter contract with Engelhart CTP Freight (Switzerland) SA, at a gross charter rate of US$14,200 per day, minus a 5% commission paid to third parties, for a period until minimum January 10, 2024 up to maximum March 25, 2024. The charter is expected to commence on February 1, 2023.

The employment of “DSI Aquarius” is anticipated to generate approximately US$4.81 million of gross revenue for the minimum scheduled period of the time charter.

Upon the completion of the previously announced sale of m/v Aliki and including the newly delivered m/v DSI Aquarius, Diana Shipping Inc.’s fleet will consist of 42 dry bulk vessels (4 Newcastlemax, 10 Capesize, 5 Post-Panamax, 6 Kamsarmax, 8 Panamax and 9 Ultramax). As of today, the combined carrying capacity of our fleet, including the m/v Aliki, is approximately 4.9 million dwt with a weighted average age of 10.25 years. A table describing the current Diana Shipping Inc. fleet can be found on the Company’s website, www.dianashippinginc.com. Information contained on the Company’s website does not constitute a part of this press release.

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