Diana Shipping Inc. has announced a new time charter contract for its Ultramax dry bulk vessel, the m/v DSI Polaris, with Cargill Ocean Transportation (Singapore) Pte. Ltd. The charter is set to begin on July 1, 2025, and will last until at least July 21, 2026, with a possible extension until September 21, 2026. The contract stipulates a gross charter rate of US$12,250 per day, minus a 4.75% commission to third parties. This agreement is expected to generate approximately US$4.66 million in gross revenue for the company over the minimum duration of the charter. The DSI Polaris, built in 2018, has a carrying capacity of 60,404 dwt.
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