On October 16, 2025, Diana Shipping Inc. announced a new time charter contract with SwissMarine for its Capesize dry bulk vessel m/v New Orleans. The agreement sets a gross rate of $26,000 per day, a 5% commission to third parties, and a commencement date of October 28, 2025. The charter period runs from a minimum of December 1, 2026 to a maximum of February 15, 2027.
The vessel, which has a deadweight tonnage of 180,960 dwt, was previously chartered to Kawasaki Kisen Kaisha at a rate of $20,000 per day. The new rate represents a 30% increase in daily revenue and is projected to generate $10.22 million of gross revenue over the minimum scheduled period. This upgrade directly improves the company’s gross revenue per day for the vessel.
The new contract strengthens DSX’s earnings visibility and expands its charter portfolio. By securing a higher‑yield charter on a Capesize vessel, the company enhances its predictable cash flows and supports its disciplined chartering strategy amid a soft dry bulk market. The addition of this high‑yield vessel aligns with DSX’s goal of maintaining stable revenue streams and reinforces its competitive position in the industry.
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