Diana Shipping Inc. Announces Time Charter Contract For m/v Crystalia With Louis Dreyfus Company; Gross Charter Rate Is $13,900, Minus A 5% Commission Paid To Third Parties
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Diana Shipping Inc. (DSX) has entered into a time charter contract with Louis Dreyfus Company for the m/v Crystalia, an Ice Class Panamax dry bulk vessel. The contract, starting in Q2 2024, has a gross charter rate of $13,900 minus a 5% commission, for 21 to 25 months, expected to generate $8.76 million in gross revenue. Following the sale of m/v Houston and m/v Artemis, DSX's fleet will include 38 vessels, with plans to add two methanol dual fuel Kamsarmax vessels by 2028. The current fleet's capacity is about 4.5 million dwt.
March 01, 2024 | 2:19 pm
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Diana Shipping Inc. secures a lucrative time charter contract for m/v Crystalia with Louis Dreyfus, expected to generate $8.76 million in revenue, enhancing DSX's financial outlook.
The new charter contract for m/v Crystalia with Louis Dreyfus is a positive development for Diana Shipping Inc., indicating strong demand for its shipping services. The contract's duration and rate are favorable, likely leading to increased revenue and profitability in the short term. The announcement also reflects positively on DSX's operational and strategic capabilities, potentially making it more attractive to investors. The sale of two vessels and the planned fleet expansion further indicate DSX's strategic fleet management and growth outlook, supporting a positive short-term impact on its stock price.
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