Greece-based and New York-listed Diana Shipping, through a separate wholly-owned subsidiary, has entered into a time charter contract with Glencore Freight Pte. Ltd. for one of its capesize dry bulk vessels, the P. S. Palios.

Glencore Freight hired the 179,134 dwt capesize bulk vessel built in 2013.

The vessel is chartered for a gross charter rate of $25,200, minus a 5.00% commission paid to third parties, for a period until minimum November 15, 2026, up to maximum January 15, 2027.

The charter is expected to begin on December 14, 2025.

The employment of P. S. Palios is anticipated to generate a total of approximately $8.34m 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 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 12.03 years.