Diana Shipping has secured an 18% day-rate increase for its 2022-built capesize bulker Florida under a new time charter with Japan's NYK, according to Splash247. The Greek dry bulk owner, led by Semiramis Paliou, is extending a run of stronger fixtures across its fleet.
Florida fixture details
The 182,063 dwt vessel will earn $30,500 per day, minus a 5% commission, for a period of between 32 and 35.5 months, Splash247 reported. The charter is expected to commence during the second quarter of 2027 and is set to generate about $29.28m in gross revenue over the minimum term. The Florida is currently on charter to agricultural trading company Bunge at $25,900 per day, also minus a 5% commission.
Diana acquired the Japanese newbuilding resale for about $60.1m in late 2021 before fixing the ship to Bunge for between 58 and 62 months from March 2022.
| Charter | Vessel | Rate per day (minus 5% commission) | Change | Charterer | Start |
|---|---|---|---|---|---|
| Existing | Florida (182,063 dwt) | $25,900 | — | Bunge | March 2022 |
| New | Florida (182,063 dwt) | $30,500 | +18% | NYK | Q2 2027 |
| New (last month) | Philadelphia (newcastlemax) | $35,500 | +65% | Classic Maritime | August |
A run of stronger fixtures
Splash247 noted that the latest deal adds to a series of rate gains for Diana Shipping. Last month, the owner secured a 65% rate increase for the 2012-built newcastlemax Philadelphia, fixing the vessel to Classic Maritime at $35,500 per day from August. Diana has also recently secured improved employment for the panamax Ismene and the kamsarmax Medusa, though specific terms were not disclosed in the source.
Fleet size and newbuildings
Diana Shipping operates 36 bulkers with a combined carrying capacity of about 4.1m dwt. The owner also has two methanol dual-fuel kamsarmax newbuildings on order, with deliveries scheduled for the second half of 2027 and the first half of 2028, according to Splash247.
Genco Shipping & Trading pursuit continues
Away from chartering, Diana's pursuit of US-listed Genco Shipping & Trading remains unresolved. Splash247 reported that Diana allowed its $24.80-per-share cash tender to expire on July 24, but has kept a separate cash-and-stock proposal on the table, valuing Genco at an implied $27.34 per share. Genco's board is continuing to review that offer.
Implications for dry bulk market participants
For freight forwarders and logistics managers tracking dry bulk capacity costs, the fixtures reported by Splash247 illustrate a firming rate environment across Diana Shipping's fleet. The new Florida charter at $30,500 per day is 18% above its current Bunge rate, while the Philadelphia's $35,500 per day reflects a 65% jump. With 36 bulkers and two additional kamsarmaxes on order, Diana will remain a substantial supplier of dry bulk tonnage through the late 2020s.
Watch list
- Genco board review: Genco Shipping & Trading's board continues to evaluate Diana's cash-and-stock proposal, which implies a value of $27.34 per share.
- Newbuilding deliveries: Two methanol dual-fuel kamsarmaxes are due in the second half of 2027 and first half of 2028, expanding Diana's fleet.
- Florida charter start: The new NYK charter on the Florida is expected to begin in the second quarter of 2027, overlapping with the vessel's current Bunge commitment.
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