New York-listed Greek dry bulk owner Diana Shipping has signed a time charter agreement with Cargill’s shipping unit in Singapore, for one of its ultramax vessels.

The 2017-built DSI Phoenix has been fixed from August 3, 2025, with a duration running from a minimum of October 1, 2026, to a maximum of November 30, 2026.

The dayrate has been set at $13,500, with a 4.75% commission payable to third parties. Over the minimum period of the agreement, Diana Shipping said it expects to generate about $5.64m in revenue.

The fixture follows the vessel’s previous contract with Bulk Trading at a higher rate of $16,500 per day.

Most recently, Cargill also took on Diana’s ultramax DSI Polaris until July 21 next year at $12.500 per day.