Greece-based and New York-listed Diana Shipping, through a separate wholly-owned subsidiary, has entered into a time charter contract with Nippon Yusen Kabushiki Kaisha, Tokyo, for one of its post-panamax dry bulk vessels, the Phaidra.

NYK hired the 87,146 dwt post-panamax dry bulk vessel built in 2013.

The vessel is chartered for a gross charter rate of $14,500 per day, minus a 5.00% commission paid to third parties, for a period until minimum February 20, 2027, up to maximum April 20, 2027.

The charter is expected to begin on February 24, 2026. The Phaidra is currently chartered at a gross charter rate of $9,750 per day, minus a 5.00% commission paid to third parties.

The employment of Phaidra is anticipated to generate a total of approximately $5.18m 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 12.22 years.