Diana Shipping Extends Charter Contract for Amphitrite

Diana Shipping Inc. has announced the extension of a time charter contract for its Post-Panamax dry bulk vessel, the m/v Amphitrite, with Cobelfret S.A., effective from December 31, 2024, until at least January 1, 2026, potentially extending to March 15, 2026. The gross charter rate is set at $8,750 per day for the first 50 days and $12,100 for the remainder, with a 5% commission deducted for third parties, yielding an estimated $4.22 million in gross revenue for the minimum period. This extension is at a reduced rate compared to the previous contract, which was $12,250 per day initially. Diana Shipping operates a fleet of 38 dry bulk vessels and plans to add two methanol dual fuel Kamsarmax vessels by 2028. The company maintains a strong market presence, with a fleet capacity of approximately 4.2 million dwt and a weighted average age of 11.23 years, showing resilience despite market challenges.