The charter rate improvement signals tightening dry bulk supply and supports near-term earnings visibility. Monitor upcoming fleet utilization and any further charter announcements for confirmation of sustained rate strength.
Price Chart
Executive Summary
Diana Shipping announced a time charter contract for the m/v DSI Polaris with Dai An Ocean Shipping Company at $18,000/day, up from the prior charter rate of $12,250/day, expected to generate ~$10.37M in gross revenue over the minimum period. The improved charter rate reflects favorable dry bulk market conditions and provides visible cash flow through mid-2028.
Key Financial Metrics
Key Facts
- Time charter for m/v DSI Polaris at $18,000/day gross, minus 5% commission, from ~Sept 25, 2026 to min May 1, 2028 / max June 30, 2028
- Prior charter rate was $12,250/day (minus 4.75% commission) — a ~47% increase in gross daily rate
- Expected to generate ~$10.37M in gross revenue over the minimum charter period
- Charterer is Dai An Ocean Shipping Company Limited
- Fleet consists of 36 dry bulk vessels (4.1M dwt, avg age 12.83 years); two methanol dual-fuel Kamsarmax newbuilds expected by H2 2027 and H1 2028
Financial Impact
~$10.37M gross revenue over minimum charter period; daily rate increase of ~$5,750/day vs prior charter
Risk Factors
- Charter market volatility could reverse if global trade or commodity demand weakens
- Geopolitical risks (Russia-Ukraine, Middle East) may disrupt shipping routes or rates
- Counterparty risk with Dai An Ocean Shipping Company
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3365553 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 16, 2026 10d ago | SC 13D/A | $2.51 | awaiting T+60 | — | $2.54 (+1.00%) |
Oct 8, 2026 18d ago | 6-K | $2.82 | awaiting T+60 | — | $2.54 (−10.11%) |
Sep 22, 2026 5w ago | 6-K | $2.92 | awaiting T+60 | — | $2.54 (−13.18%) |
Sep 21, 2026 5w ago | Press Release | $2.97 | awaiting T+60 | — | $2.54 (−14.65%) |
Sep 16, 2026 5w ago | 6-K | $3.07 | awaiting T+60 | — | $2.54 (−17.43%) |
Sep 16, 2026 5w ago | Press Release | $2.99 | awaiting T+60 | — | $2.54 (−15.22%) |
Aug 24, 2026 9w ago | Press Release | $2.70 | awaiting T+60 | — | $2.54 (−6.11%) |
Aug 14, 2026 10w ago | 6-K | $2.66 | awaiting T+60 | — | $2.54 (−4.70%) |
Aug 14, 2026 10w ago | Press Release | $2.66 | awaiting T+60 | — | $2.54 (+4.70%) |
Aug 11, 2026 10w ago | 6-K | $2.38 | awaiting T+60 | — | $2.54 (+6.51%) |
US Market Status
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