10:07 AM EDT, 09/19/2024 (MT Newswires) -- Diana Shipping ( DSX ) said Thursday that it signed a time charter contract with Propel Shipping for an Ultramax dry bulk vessel.

The company said the gross charter rate for the m/v DSI Altair vessel is $15,750 per day, minus a 5% commission paid to third parties from as early as Nov. 1, 2025 to as late as Dec. 31, 2025.

Diana Shipping ( DSX ) said the charter is expected to begin Sept. 26, and that the DSI Altair is currently chartered to Western Bulk Carrier at a gross charter rate of $13,800 per day, minus a 5% commission paid to third parties.

The company said it expects chartering the DSI Altair will generate approximately $6.2 million of gross revenue for the minimum scheduled period of the time charter.

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