Diana Shipping Secures $4.68M Charter Deal for m/v Astarte

Diana Shipping Inc. has secured a time charter contract for its Kamsarmax dry bulk vessel, the m/v Astarte, with Propel Shipping Pte. Ltd., at a gross daily rate of $12,500 minus a 5% commission. The charter is set to begin on August 2, 2025, and is expected to last until at least August 16, 2026, with a maximum term extending to October 16, 2026, generating approximately $4.68 million in gross revenue during the minimum period. The Astarte, built in 2013 with a deadweight of 81,513 metric tons, is part of Diana Shipping's fleet of 36 dry bulk vessels, which includes various vessel classes and plans to add two methanol dual fuel new-building Kamsarmax vessels by 2027-2028. Financial analyses reflect a mixed outlook, with some optimism about the stock's potential upside, supported by an average analyst target price suggesting a 41.1% gain and an 'Outperform' brokerage rating, despite challenges such as declining revenues and liquidity concerns. Diana Shipping specializes in short to medium-term time charters transporting dry bulk cargo like iron ore, coal, and grain globally, and this charter reflects its ongoing strategy to maximize fleet utilization and revenue. The company's fleet capacity stands at approximately 4.1 million deadweight tons with a weighted average age of nearly 12 years.