The 65% rate increase on this vessel is a clear positive for near-term revenue visibility. Traders should monitor dry bulk spot rate trends and any further charter announcements from Diana Shipping, as this could signal improving market conditions for the company's fleet.
Price Chart
Executive Summary
Diana Shipping Inc. announced a new time charter contract for its Newcastlemax vessel m/v Philadelphia with Classic Maritime Inc. at a gross rate of US$35,500 per day, a significant increase from the previous charter rate of US$21,500 per day. The charter is expected to generate approximately US$7.46 million in gross revenue over the minimum period, providing a clear near-term cash flow boost for the company.
Key Facts
- Diana Shipping entered a time charter contract for the m/v Philadelphia with Classic Maritime Inc.
- Gross charter rate is US$35,500 per day, up from the previous rate of US$21,500 per day.
- The charter period runs from minimum March 10, 2027 to maximum May 10, 2027, expected to commence August 8, 2026.
- The contract is expected to generate approximately US$7.46 million in gross revenue for the minimum period.
- The m/v Philadelphia is a 206,040 dwt Newcastlemax dry bulk vessel built in 2012.
- Diana Shipping's fleet consists of 36 dry bulk vessels with a combined carrying capacity of approximately 4.1 million dwt.
Financial Impact
Approximately US$7.46 million in gross revenue from the minimum charter period, with a daily rate increase of US$14,000 (65%) over the prior charter.
Risk Factors
- Charter market rates could decline before the contract commences, though the fixed rate provides protection.
- The charter period is relatively short (minimum ~7 months), limiting long-term revenue visibility.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0000919574-26-004629 |
| Document: p15038206_ex99-1.htm | 0000919574-26-004629 |
| Document: 0000919574-26-004629-index-headers.html | 0000919574-26-004629 |
| Document: 0000919574-26-004629-index.html | 0000919574-26-004629 |
| Document: 0000919574-26-004629.txt | 0000919574-26-004629 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 16, 2026 10d ago | SC 13D/A | $2.51 | awaiting T+60 | — | $2.55 (+1.39%) |
Oct 8, 2026 18d ago | 6-K | $2.82 | awaiting T+60 | — | $2.55 (−9.75%) |
Sep 22, 2026 5w ago | 6-K | $2.92 | awaiting T+60 | — | $2.55 (−12.84%) |
Sep 21, 2026 5w ago | Press Release | $2.97 | awaiting T+60 | — | $2.55 (−14.31%) |
Sep 16, 2026 5w ago | 6-K | $3.07 | awaiting T+60 | — | $2.55 (−17.10%) |
Sep 16, 2026 5w ago | Press Release | $2.99 | awaiting T+60 | — | $2.55 (−14.88%) |
Aug 24, 2026 9w ago | Press Release | $2.70 | awaiting T+60 | — | $2.55 (−5.74%) |
Aug 14, 2026 10w ago | 6-K | $2.66 | awaiting T+60 | — | $2.55 (−4.32%) |
Aug 14, 2026 10w ago | Press Release | $2.66 | awaiting T+60 | — | $2.55 (+4.32%) |
Aug 11, 2026 10w ago | 6-K | $2.38 | awaiting T+60 | — | $2.55 (+6.93%) |
US Market Status
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