Greece-based and New York-listed Diana Shipping, through a separate wholly-owned subsidiary, has entered into a time charter contract with Cargill Ocean Transportation (Singapore) for one of its ultramax dry bulk vessels, the DSI Pegasus.

Cargill Ocean Transportation hired the 60,508-dwt ultramax dry bulk vessel built in 2015.

The vessel is chartered for a gross charter rate of $14,250, minus a 4.75% commission paid to third parties, for a period until minimum May 20, 2026, up to maximum July 20, 2026.

The charter is expected to begin on August 15.

The employment of DSI Pegasus is anticipated to generate approximately $3.92m of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 36 dry bulk vessels (4 newcastlemax, 8 capesize, 4 post-panamax, 6 kamsarmax, 5 panamax and 9 ultramax).

The company also expects to take delivery of two methanol dual fuel new-building kamsarmax dry bulk vessels by the second half of 2027 and the first half of 2028, respectively.

Currently, the combined carrying capacity of the company’s fleet, excluding the two vessels not yet delivered, is approximately 4.1 million dwt, with a weighted average age of 11.71 years.