Diana Shipping enters contract for m/v Seattle, sells m/v DSI Drammen

Diana Shipping (DSX) entered into a time charter contract with SwissMarine, for one of its Capesize dry bulk vessels, the m/v Seattle. The gross charter rate is $24,500, minus a 5.00% commission paid to third parties, for a period until minimum May 1, 2027 up to maximum June 30, 2027. The charter is expected to commence on November 26, 2025. The m/v Seattle was chartered, as previously announced, to Solebay Shipping Cape Company Limited, Hong Kong, at a gross charter rate of $17,500 per day, minus a 5.00% commission paid to third parties. The “Seattle” is an 179,362 dwt Capesize bulk vessel built in 2011. The employment of “Seattle” is anticipated to generate approximately $12.62M of gross revenue for the minimum scheduled period of the time charter. The Company also announced that it has signed, through a limited partnership, a Memorandum of Agreement to sell to an unaffiliated third party, the 2016-built Ultramax dry bulk vessel m/v DSI Drammen, with delivery to the buyer latest by March 31, 2026, for a sale price of approximately $26.4M before commissions. The vessel has now been sold to a buyer, entirely unrelated to the previous one who failed to complete the transaction. The Company, through its wholly-owned subsidiaries, holds a 25% interest in the limited partnership, while the remaining 75% of the limited partnership is owned by Ecobulk AS, a Norwegian entity.