Diana Shipping Inc. (NYSE: DSX) extended the time charter contract for its Post-Panamax dry bulk vessel m/v Polymnia with Oldendorff Carriers GmbH & Co. KG, the company announced.

The new charter carries a gross rate of $20,000 per day, minus a 5% commission paid to third parties, for a period from June 1, 2026 until minimum March 1, 2027 up to maximum April 30, 2027. The vessel currently operates under a charter at a gross rate of $14,000 per day, minus a 5% commission.

The m/v Polymnia is a 98,704 deadweight ton Post-Panamax dry bulk vessel built in 2012. The employment extension is expected to generate approximately $5.36 million of gross revenue for the minimum scheduled period.

Diana Shipping's fleet consists of 36 dry bulk vessels including 4 Newcastlemax, 8 Capesize, 4 Post-Panamax, 6 Kamsarmax, 5 Panamax and 9 Ultramax vessels. The company expects to take delivery of two methanol dual fuel new-building Kamsarmax dry bulk vessels by the second half of 2027 and the first half of 2028.

The combined carrying capacity of the company's current fleet totals approximately 4.1 million deadweight tons, with a weighted average age of 12.47 years, according to the press release statement.

Diana Shipping provides shipping transportation services through ownership and bareboat charter-in of dry bulk vessels that transport commodities including iron ore, coal, grain and other materials on worldwide shipping routes.