Diana Shipping Inc., associated with Semiramis Palaiou, has signed a new time charter with Nippon Yusen Kabushiki Kaisha (NYK) for the Post-Panamax bulk carrier Phaidra. The daily charter rate is set at $14,500, reflecting a 5% decrease during the charter period from February 20 to April 20, 2027. The charter will officially commence on February 24, 2026.

Previously, the vessel, which has a capacity of 87,146 deadweight tons (dwt) and was built in 2013, was chartered at $9,750 per day. This new agreement is expected to generate approximately $5.18 million in gross revenues over the minimum charter duration. The shift in daily rate indicates the fluctuating dynamics in the shipping market and could signal broader trends in shipping costs.

Diana Shipping's fleet consists of 36 vessels with a total capacity of around 4.1 million dwt, averaging an age of 12.22 years. The company is also anticipating the delivery of two new Kamsarmax dual-fuel methanol vessels by 2028, indicating an ongoing investment in fleet modernization and green technologies, aligning with industry trends towards sustainability.