Diana Shipping Inc. (NYSE: DSX) has entered into a time charter contract for its Kamsarmax dry bulk vessel m/v Medusa with Aquavita International S.A., according to a press release from the Athens-based company.

The gross charter rate is $16,850 per day, minus a 4.75% commission paid to third parties. The charter period runs from a minimum of October 5, 2027 to a maximum of December 20, 2027, with the charter expected to commence July 10, 2026. The contract is anticipated to generate approximately $7.50 million in gross revenue over the minimum scheduled period.

The m/v Medusa is an 82,194 deadweight ton Kamsarmax vessel built in 2010. The vessel is currently under a separate charter with Cargill International S.A., Geneva, at a gross rate of $13,000 per day, minus a 4.75% commission paid to third parties.

Diana Shipping's fleet currently consists of 36 dry bulk vessels, including 4 Newcastlemax, 8 Capesize, 4 Post-Panamax, 6 Kamsarmax, 5 Panamax, and 9 Ultramax vessels. The company also expects delivery of two methanol dual fuel new-building Kamsarmax vessels by the second half of 2027 and the first half of 2028. The combined carrying capacity of the existing fleet is approximately 4.1 million deadweight tons, with a weighted average age of 12.62 years.