Diana Shipping has locked in the super tanker DSI Polaris on a new charter with Dai An Ocean Shipping worth $18,000 per day, continuing its strong trend in securing dry bulk shipments. This rate is approximately 47% higher than the current rate.
Details of the New Contract
The DSI Polaris, built in 2018 and with a deadweight tonnage (dwt) of 60,404 tons, is set to commence its new employment on September 25, 2023. This contract will last until at least May 1, 2028, with an option to extend until June 30, 2028. Diana Shipping estimates that this minimum period will generate approximately $10.37 million in gross revenue.
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Rate Changes and Comparison with Previous Contracts
The DSI Polaris currently earns $12,250 per day with Cargill Ocean Transportation, calculated after a 4.75% commission. This contract started last July and was set to end on September 21. The transition to Dai An Ocean Shipping increases the base rate by $5,750 per day, which is approximately 47% higher.
This new contract maintains the strong rate trend in the fleet managed by Semiramis Paliou. Earlier this month, the Kamsarmax Astarte was transferred to Aquavita at a rate of $17,000 per day, which was 36% higher than its previous contract. Additionally, the Panamax Leto has recently been transferred to a $18,000 per day contract with Cargill, reflecting a 41% increase.
Overall Status of Diana Shipping's Fleet
Diana Shipping currently manages 36 bulk carriers with a total capacity of approximately 4.1 million dwt, and two new dual-fuel methanol Kamsarmax vessels are scheduled for delivery in the second half of 2027 and the first half of 2028. This situation reflects Diana's ability to secure higher rates in the shipping market.
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