The significant charter rate uplift on this vessel (47% above prior) signals improving dry bulk market conditions and Diana's ability to reprice contracts favorably. Monitor upcoming fleet renewals and any further charter announcements for read-through on earnings trajectory.
Price Chart
Executive Summary
Diana Shipping announced a new time charter for the Ultramax vessel m/v DSI Polaris with Dai An Ocean Shipping at $18,000/day, up sharply from the prior $12,250/day charter with Cargill. The charter runs until at least May 2028, locking in ~$10.37M in gross revenue over the minimum period. This represents a material improvement in fleet revenue visibility and charter rates.
Key Facts
- Time charter for m/v DSI Polaris at gross rate of $18,000/day, minus 5% commission
- Prior charter for same vessel was $12,250/day (minus 4.75% commission) — a ~47% rate increase
- Charter period: minimum May 1, 2028 to maximum June 30, 2028
- Expected to generate ~$10.37 million of gross revenue over minimum scheduled period
- Charter commences September 25, 2026
- Counterparty: Dai An Ocean Shipping Company Limited
- Fleet of 36 dry bulk vessels (4.1M dwt, avg age 12.83 years); two methanol dual-fuel Kamsarmax newbuilds expected by H2 2027/H1 2028
Financial Impact
~$10.37M gross revenue over minimum charter period; rate increase of ~$5,750/day vs prior charter
Risk Factors
- Charter counterparty credit risk (Dai An Ocean Shipping)
- Dry bulk market volatility could pressure future charter renewals
- Forward-looking statements subject to market and geopolitical risks
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0000919574-26-006415 |
| Document: p15096900_6-k.htm | 0000919574-26-006415 |
| Document: 0000919574-26-006415-index-headers.html | 0000919574-26-006415 |
| Document: 0000919574-26-006415-index.html | 0000919574-26-006415 |
| Document: 0000919574-26-006415.txt | 0000919574-26-006415 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 16, 2026 11d ago | SC 13D/A | $2.51 | awaiting T+60 | — | $2.54 (+1.20%) |
Oct 8, 2026 19d ago | 6-K | $2.82 | awaiting T+60 | — | $2.54 (−9.93%) |
Sep 22, 2026 5w ago | 6-K | $2.92 | awaiting T+60 | — | $2.54 (−13.01%) |
Sep 21, 2026 5w ago | Press Release | $2.97 | awaiting T+60 | — | $2.54 (−14.48%) |
Sep 16, 2026 5w ago | 6-K | $3.07 | awaiting T+60 | — | $2.54 (−17.26%) |
Sep 16, 2026 5w ago | Press Release | $2.99 | awaiting T+60 | — | $2.54 (−15.05%) |
Aug 24, 2026 9w ago | Press Release | $2.70 | awaiting T+60 | — | $2.54 (−5.93%) |
Aug 14, 2026 10w ago | 6-K | $2.66 | awaiting T+60 | — | $2.54 (−4.51%) |
Aug 14, 2026 10w ago | Press Release | $2.66 | awaiting T+60 | — | $2.54 (+4.51%) |
Aug 11, 2026 11w ago | 6-K | $2.38 | awaiting T+60 | — | $2.54 (+6.72%) |
US Market Status
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