The charter locks in a ~17.8% rate increase over the current charter and provides multi-year revenue visibility. However, the start is not until Q2 2027, so near-term cash flows are unaffected. Monitor dry bulk spot rates and any further charter announcements for fleet deployment.
Price Chart
Executive Summary
Diana Shipping entered a time charter contract for its Capesize vessel m/v Florida with Nippon Yusen at $30,500/day (up from $25,900/day on the current charter), for 32–35.5 months starting Q2 2027, generating ~$29.28M in minimum gross revenue. The rate increase and long duration provide revenue visibility, but the delayed start limits near-term impact.
Key Financial Metrics
Key Facts
- Charter rate: $30,500/day (5% commission to third parties), up from $25,900/day on the prior charter
- Minimum charter period: 32 months; maximum: 35.5 months
- Expected commencement: Q2 2027
- Minimum gross revenue: ~$29.28 million
- Counterparty: Nippon Yusen Kabushiki Kaisha (NYK), Tokyo
- Vessel: m/v Florida, 182,063 dwt Capesize built in 2022
- Fleet: 36 dry bulk vessels (4 Newcastlemax, 8 Capesize, 4 Post-Panamax, 6 Kamsarmax, 5 Panamax, 9 Ultramax) plus two methanol dual-fuel Kamsarmax newbuilds expected H2 2027 and H1 2028
Financial Impact
~$29.28 million in gross revenue over the minimum 32-month charter period
Risk Factors
- Charter commencement could be delayed beyond Q2 2027
- Dry bulk rate volatility may make this fixed-rate charter less attractive if spot rates rise further
- Counterparty credit risk with Nippon Yusen
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3341117 |
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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