Diana Shipping announces sale of m/v Alcmene, enters time charter contract

Diana Shipping (DSX) has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party, the 2010-built Post-Panamax vessel “Alcmene”, with delivery to the buyer latest by March 7, 2025, for a sale price of approximately $11.9M before commissions. The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with SwissMarine, for one of its Newcastlemax dry bulk vessels, the m/v San Francisco. The gross charter rate is $26,000 per day, minus a 5.00% commission paid to third parties, for a period until minimum October 25, 2026 up to maximum December 25, 2026. The new charter period is expected to commence on February 27, 2025. The m/v San Francisco is currently chartered, as previously announced, at a gross charter rate of $22,000 per day, minus a 5.00% commission paid to third parties. The “San Francisco” is a 208,006 dwt Newcastlemax dry bulk vessel built in 2017. The employment extension of “San Francisco” is anticipated to generate approximately $15.55M of gross revenue for the minimum scheduled period of the time charter.