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Diana Shipping announced delivery of the Ultramax Dry Bulk Vessel m/v DSI Pyxis and entry Into Time Charter Contract with Cargill Ocean Transportation

Diana Shipping, a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has taken delivery of the m/v DSI Pyxis (formerly “STH Montreal”), a 2018 built Ultramax dry bulk vessel of 60,362 dwt. The vessel is one of nine modern Ultramax dry bulk vessels that the Company entered into an agreement to purchase in August 2022.

The Company also announced that, through the same wholly-owned subsidiary, it entered into a time charter contract with Cargill Ocean Transportation Singapore Pte. Ltd. at a gross charter rate of US$17,100 per day, minus a 4.75% commission paid to third parties, for a period of minimum ten (10) months to maximum twelve (12) months. The charter is expected to commence on October 15, 2022.

The employment of “DSI Pyxis” is anticipated to generate approximately US$5.13 million of gross revenue for the minimum scheduled period of the time charter.

Including the newly delivered m/v DSI Pyxis, Diana Shipping Inc.’s fleet currently consists of 35 dry bulk vessels (4 Newcastlemax, 11 Capesize, 5 Post-Panamax, 6 Kamsarmax, 8 Panamax and 1 Ultramax). The Company also expects to take delivery of eight Ultramax dry bulk vessels in the fourth quarter of 2022. As of today, the combined carrying capacity of our fleet, excluding the eight Ultramax dry bulk vessels not yet delivered, is approximately 4.4 million dwt with a weighted average age of 10.34 years.

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