The charter rate of US$38,000/day is well above the prior US$26,800/day, signaling strong Capesize market conditions and locking in elevated revenue for over a year. Monitor dry bulk spot rate trends and Diana's upcoming fleet utilization announcements for further confirmation of sustained demand.
Price Chart
Executive Summary
Diana Shipping announced a time charter contract for the Capesize vessel m/v G. P. Zafirakis with Classic Maritime Inc. at a gross rate of US$38,000 per day, a significant increase from the prior charter rate of US$26,800 per day. The charter runs from minimum October 1, 2027 to maximum December 15, 2027, and is expected to generate approximately US$13.34 million in gross revenue over the minimum period.
Key Facts
- Time charter contract for m/v G. P. Zafirakis (179,492 dwt Capesize, built 2014) with Classic Maritime Inc.
- Gross charter rate: US$38,000 per day, minus 5.00% commission to third parties.
- Prior charter rate for the same vessel was US$26,800 per day, representing a ~42% increase.
- Charter period: minimum October 1, 2027 to maximum December 15, 2027, commencing October 10, 2026.
- Anticipated gross revenue of approximately US$13.34 million for the minimum scheduled period.
- Diana Shipping's fleet consists of 36 dry bulk vessels with combined carrying capacity of ~4.1 million dwt.
Financial Impact
Approximately US$13.34 million in gross revenue from the minimum charter period; the daily rate increase of ~US$11,200/day vs. the prior charter represents a material revenue uplift for this vessel.
Risk Factors
- Charter counterparty risk with Classic Maritime Inc.
- Potential off-hire or vessel downtime before charter commencement.
- Dry bulk market rate volatility could affect future charter renewals.
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0000919574-26-006762 |
| Document: p15109643_ex99-1.htm | 0000919574-26-006762 |
| Document: 0000919574-26-006762-index-headers.html | 0000919574-26-006762 |
| Document: 0000919574-26-006762-index.html | 0000919574-26-006762 |
| Document: 0000919574-26-006762.txt | 0000919574-26-006762 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 16, 2026 11d ago | SC 13D/A | $2.51 | awaiting T+60 | — | $2.51 (−0.00%) |
Oct 8, 2026 19d ago | 6-K | $2.82 | awaiting T+60 | — | $2.51 (−10.99%) |
Sep 22, 2026 5w ago | 6-K | $2.92 | awaiting T+60 | — | $2.51 (−14.04%) |
Sep 21, 2026 5w ago | Press Release | $2.97 | awaiting T+60 | — | $2.51 (−15.49%) |
Sep 16, 2026 5w ago | 6-K | $3.07 | awaiting T+60 | — | $2.51 (−18.24%) |
Sep 16, 2026 5w ago | Press Release | $2.99 | awaiting T+60 | — | $2.51 (−16.05%) |
Aug 24, 2026 9w ago | Press Release | $2.70 | awaiting T+60 | — | $2.51 (−7.04%) |
Aug 14, 2026 10w ago | 6-K | $2.66 | awaiting T+60 | — | $2.51 (−5.64%) |
Aug 14, 2026 10w ago | Press Release | $2.66 | awaiting T+60 | — | $2.51 (+5.64%) |
Aug 11, 2026 11w ago | 6-K | $2.38 | awaiting T+60 | — | $2.51 (+5.46%) |
US Market Status
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