Diana Takes Secondhand Ultramax, Charters Out Another

Diana Shipping on Monday announced it has taken delivery of the DSI Andromeda (formerly STH Tokyo), a 2016-built Ultramax dry bulk vessel. The 60,309 dwt 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 a separate wholly-owned subsidiary, it has entered into a time charter contract with ASL Bulk Marine Limited, for one of its Ultramax dry bulk vessels, the DSI Polaris. The gross charter rate is $13,100 per day, minus a 5% commission paid to third parties, for a period of minimum 18 months to maximum 20 months. The charter commenced on November 12, 2022.

The DSI Polaris is a 60,404 dwt Ultramax dry bulk vessel built in 2018. Diana said its employment of DSI Polaris is anticipated to generate approximately $7.07 million of gross revenue for the minimum scheduled period of the time charter.