Greece-based and New York-listed Diana Shipping, through a separate wholly-owned subsidiary, has entered into a time charter contract with Propel Shipping Pte. Ltd., for one of its kamsarmax dry bulk vessels, the Astarte.

Propel Shipping hired the 81,513-dwt kamsarmax dry bulk vessel built in 2013.

The vessel is chartered for a gross charter rate of $12,500, minus a 5.00% commission paid to third parties, for a period until minimum August 16, 2026 up to maximum October 16, 2026.

The charter is expected to start on August 2, 2025.

The employment of Astarte is anticipated to generate approximately $4.68m 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 11.68 years.