Greece-based and New York-listed Diana Shipping, through a separate wholly-owned subsidiary, has extended the time charter contract with Oldendorff Carriers, for one of its post-panamax dry bulk vessels, the Polymnia.

Oldendorff Carriers hired the 98,704-dwt dry bulk vessel built in 2012.

The vessel is chartered for a gross charter rate of $20,000 per day, minus a 5.00% commission paid to third parties, for a period until minimum March 1, 2027, up to maximum April 30, 2027.

The new charter period is expected to begin on June 1, 2026.

The post-panamax vessel is currently chartered at a gross charter rate of $14,000 per day, minus a 5.00% commission paid to third parties.

The employment extension of Polymnia is anticipated to bring to the company around $5.36m of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping’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 newbuilding 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 12.47 years.