Diana Shipping has secured a new time charter for its 2013-built panamax bulker Ismene at a substantially higher daily rate, reflecting improved conditions in the dry bulk charter market, according to Splash247.
Charter Details
The New York-listed Greek bulker owner fixed the 77,901 dwt vessel to Paralos Shipping at $15,750 per day, less a 5% commission paid to third parties. This yields a net rate of approximately $14,962.50 per day. The charter is expected to start on July 5, 2026 and run through a window between May 15, 2027 and July 15, 2027. Diana Shipping stated the employment would generate about $4.88 million in gross revenue for the minimum charter period.
Rate Comparison
The new rate represents a significant increase over previous charters for the same vessel. Splash247 reported in April 2025 that the Ismene had been fixed to China Resource Chartering at an $11,000 daily rate. Additionally, Paralos previously took the vessel in 2023 at $12,650 per day.
| Charterer | Daily Rate ($/day) | Period | Gross Revenue (Minimum) |
|---|---|---|---|
| China Resource Chartering (April 2025) | $11,000 | Not specified | Not disclosed |
| Paralos Shipping (2023) | $12,650 | Not specified | Not disclosed |
| Paralos Shipping (current) | $15,750 (net ~$14,962.50) | July 2026 – May/July 2027 | $4.88 million |
- 43% increase over the previous $11,000 rate with China Resource Chartering
- 24.5% increase over the 2023 Paralos rate of $12,650
Vessel and Operator Background
The Ismene, built in 2013, is a panamax bulker named after a figure in Greek mythology. Diana Shipping owns a fleet of dry bulk carriers and is listed on the New York Stock Exchange. Paralos Shipping is a returning charterer for this vessel, having previously employed it in 2023.
Implications for Shippers and Operators
For logistics managers and freight forwarders involved in dry bulk commodities, the $15,750/day fixture provides a benchmark for current panamax charter rates on comparable trades. The higher rate suggests increased costs for transporting commodities such as grain, coal, ores, and fertilizers, potentially affecting freight budgets and contract negotiations. Operators with panamax tonnage may find improved earnings prospects, while charterers face higher voyage costs. The 5% commission to third parties is a standard practice that reduces the net revenue to the shipowner.
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