Diana Shipping Inc. (NYSE: DSX) announced it extended the time charter contract for its Kamsarmax dry bulk vessel m/v Myrto with Nippon Yusen Kabushiki Kaisha of Tokyo.

The new charter carries a gross rate of $16,650 per day, minus a 5% commission to third parties, representing an increase from the current rate of $12,000 per day. The extended period runs from April 7, 2026, until a minimum of September 20, 2027, and a maximum of November 20, 2027.

The company stated the employment extension is expected to generate approximately $8.71 million of gross revenue for the minimum scheduled charter period.

The m/v Myrto is an 82,131 deadweight ton Kamsarmax dry bulk vessel built in 2013. Diana Shipping operates the vessel through a wholly-owned subsidiary.

Diana Shipping's fleet currently consists of 36 dry bulk vessels across various sizes, including 4 Newcastlemax, 8 Capesize, 4 Post-Panamax, 6 Kamsarmax, 5 Panamax and 9 Ultramax vessels. The combined carrying capacity totals approximately 4.1 million deadweight tons with a weighted average age of 12.33 years.

The Athens-based company expects to take delivery of two methanol dual fuel new-building Kamsarmax dry bulk vessels by the second half of 2027 and first half of 2028, respectively.

Diana Shipping specializes in dry bulk vessel ownership and bareboat charter-in operations, with vessels primarily employed on short to medium-term time charters transporting commodities including iron ore, coal, grain and other materials on worldwide shipping routes.