Diana Shipping Inc., a global shipping company focused on the ownership and bareboat charter-in of dry bulk vessels, announced that it has entered into a time charter agreement with Cargill International SA for one of its Panamax dry bulk vessels, the m/v Leto.
The gross charter rate is US$12,750 per day, minus a 4.75% commission to third parties, with the contract running until a minimum of July 16, 2026, and a maximum of September 16, 2026.
The time charter is expected to commence on March 31, 2025. The m/v Leto, a Panamax dry bulk vessel with a deadweight tonnage (dwt) of 81,297, was built in 2010.
The vessel is anticipated to generate approximately US$5.93 million in gross revenue for the minimum scheduled period of the charter.
Diana Shipping's fleet currently consists of 37 dry bulk vessels, including 4 Newcastlemax, 8 Capesize, 4 Post-Panamax, 6 Kamsarmax, 6 Panamax, and 9 Ultramax vessels. The company also expects to take delivery of two methanol dual-fuel Kamsarmax dry bulk vessels by the second half of 2027 and the first half of 2028, respectively.
As of today, the combined carrying capacity of Diana Shipping's fleet, excluding the two vessels yet to be delivered, is approximately 4.1 million dwt, with a weighted average age of 11.40 years.
Diana Shipping Inc. is a global provider of shipping transportation services through the ownership and bareboat charter-in of dry bulk vessels, primarily involved in the transportation of iron ore, coal, grain, and other materials along worldwide shipping routes.