Athens-based and New York-listed shipowner and operator Diana Shipping Inc. (DSX) has reached a fresh time charter contract with the globally renowned Swiss-based agribusiness giant Bunge, one of the largest integrated players in the international commodity trading and food supply chain sector. Diana Shipping Inc. (DSX), which has long maintained a reputation for its strategic chartering activity in the dry bulk segment, has secured more attractive terms for its ultramax bulk carrier in this latest fixture with Bunge. The charter marks a significant move, as Diana Shipping Inc. (DSX) successfully increased the rate for the ultramax bulk carrier MV Aquila, which had previously been under employment with Oslo-based dry bulk operator Western Bulk Chartering (WBC), managed under the leadership of CEO Torbjorn Gjervik. This shift illustrates the improved bargaining position of Greek shipowner and operator Diana Shipping Inc. (DSX) amid a strengthening freight environment. Bunge, founded in 1818 and headquartered in Geneva, Switzerland, has grown into one of the world’s foremost agribusiness and food companies, with a global presence spanning more than 40 countries. The enterprise is involved in every step of the food supply chain, from the origination of grains and oilseeds in major agricultural hubs such as the United States, Brazil, and Argentina, to the processing, storage, and global distribution of commodities. Bunge has established itself as a critical supplier of soybeans, corn, wheat, and oilseed products, operating extensive port terminals, crushing facilities, and logistics networks that make it a vital player in connecting producers to consumers worldwide. Its customers range from food manufacturers and animal feed producers to energy companies that rely on biofuels. Bunge’s reach and financial scale make it one of the largest charterers of dry bulk carriers, and partnerships with major shipowners like Diana Shipping Inc. (DSX) reinforce its ability to secure reliable transport for agricultural commodities across global trade routes. Under the leadership of CEO Greg Heckman, Bunge has also been pursuing a long-term strategy of integrating sustainability into its operations, making commitments toward reducing its carbon footprint, increasing traceability in its soybean supply chains, and ensuring deforestation-free sourcing in sensitive regions such as South America. This emphasis on sustainability and supply chain efficiency has further cemented Bunge’s position as a leading global agribusiness. Its annual revenues exceed $65 billion, and it is widely regarded as one of the “ABCD” quartet of global agribusiness trading giants, alongside Archer Daniels Midland (ADM), Cargill, and Louis Dreyfus. The new charter arrangement demonstrates how Bunge continues to rely on experienced and well-capitalized shipping partners such as Diana Shipping Inc. (DSX) to transport bulk commodities essential for global food and energy security. Semiramis Paliou, who serves as CEO of Diana Shipping Inc. (DSX), highlighted that this new fixture not only secures employment for the 2015-built ultramax bulk carrier MV Aquila, with its 60K DWT capacity, but also reflects the resilience of Diana Shipping Inc. (DSX) in capturing market opportunities as freight rates rise to year-high levels. The ship has been fixed at a daily rate of $14,500, underlining the improvement from earlier contracts and reinforcing the positive momentum for both shipowners and commodity traders. By chartering the MV Aquila from Diana Shipping Inc. (DSX), Bunge ensures the timely and efficient transportation of essential agricultural products, which remain central to its role in addressing global food demand. The collaboration between Diana Shipping Inc. (DSX) and Bunge highlights the deep interdependence between international shipping companies and agribusiness leaders, where one provides the logistical backbone of seaborne transport while the other guarantees the steady flow of agricultural commodities that sustain both developed and emerging markets. This contract underscores not only the immediate commercial success of Diana Shipping Inc. (DSX) but also the strategic importance of Bunge’s vast network in driving seaborne trade volumes and sustaining maritime demand worldwide. 2-October-2025
Two global agricultural trading giants, Bunge and Archer Daniels Midland (ADM), saw their earnings decline due to the ambiguous US biofuel policy and the uncertainty of trade wars. The profits of ADM and Bunge were affected by US policy and trade uncertainties, leaving the agricultural traders’ outlook as murky as biofuel plans. Bunge, established in 1818 and headquartered in St. Louis, Missouri, has grown to become a key player in the agribusiness industry, engaging in the sourcing, processing, and distribution of oilseeds and grains. The company’s extensive operations include over 350 facilities worldwide and a vast network that facilitates grain transportation and processing. Bunge’s strategic initiatives focus on expanding its value chain in critical regions to enhance global food security and respond to market demands. Bunge and Archer Daniels Midland (ADM) experienced financial setbacks because of the unclear US biofuel policies and the threat of an ongoing trade war. Bunge and Archer Daniels Midland (ADM) witnessed a decrease in their fourth-quarter results, with the oversupply in agricultural commodities markets also exerting pressure. Shares of US crop trader Bunge dropped by as much as 5.35%, reflecting the market’s reaction to these challenges and the potential impact on future profitability and growth strategies. 7-February-2025
Athens-based and New York-listed shipowner and operator Diana Shipping Inc. (DSX) has secured a time charter contract with Swiss-based agribusiness company Bunge for one of its ultramax bulk carriers. The 2016-built, 60K DWT ultramax bulk carrier MV DSI Aquarius has been chartered by Bunge at a daily rate of $13,300 for a duration ranging from a minimum of 10 months to a maximum of about 12 months. The charter is slated to commence on December 6, 2024. This engagement is projected to yield approximately $3.99 million in gross revenue for the minimum period of the charter, under the leadership of Semiramis Paliou at Diana Shipping Inc. (DSX). Bunge, a leading global agribusiness and food company, operates an extensive international network and is involved in the sourcing, processing, and distribution of agricultural commodities and products. With over two centuries of growth and experience, Bunge serves the world’s growing demand for food and fuel, particularly in the regions that produce and consume the most. Bunge’s operations span continents, with significant facilities in North and South America, Europe, and Asia, making it one of the largest agribusiness companies globally. Bunge’s Chartering Department plays a critical role in its logistics and supply chain operations, ensuring the efficient and cost-effective transportation of agricultural products across the globe. This department is tasked with securing cargo space on various types of vessels, including bulk carriers like the MV DSI Aquarius, to support Bunge’s extensive commodity trading operations. The chartering team at Bunge is known for its strategic approach, leveraging the latest market intelligence and logistics technology to optimize shipping routes and manage freight costs effectively. The partnership between Diana Shipping Inc. (DSX) and Bunge is a testament to the latter’s robust supply chain management capabilities. By securing reliable and efficient maritime transport solutions, Bunge ensures that its products reach global markets in a timely and sustainable manner. This not only supports Bunge’s business objectives but also contributes to global food security by facilitating the movement of essential agricultural commodities. Furthermore, commodity trading giant Bunge’s commitment to sustainability is reflected in its shipping practices. The company actively seeks to charter newer and more fuel-efficient vessels to minimize the environmental impact of its shipping operations. This is aligned with commodity trading giant Bunge’s broader sustainability goals, which include reducing greenhouse gas emissions, conserving natural resources, and promoting responsible stewardship throughout its supply chain. The fleet of the Nasdaq-listed Diana Shipping Inc. (DSX) includes 38 dry bulk carriers, comprising four Newcastlemax bulk carriers, eight Capesize bulk carriers, five Post-Panamax bulk carriers, six Kamsarmax bulk carriers, six Panamax bulk carriers, and nine Ultramax bulk carriers. Additionally, Diana Shipping Inc. (DSX) anticipates the delivery of two methanol dual-fuel new-building Kamsarmax bulk carriers by the third quarter of 2027 and the first quarter of 2028, respectively. This modern and diverse fleet provides Diana Shipping with the flexibility and capacity to meet the specific requirements of industry leaders like commodity trading giant Bunge, ensuring long-term partnerships in the competitive global shipping market. 4-December-2024
Commodity trading giant Bunge chartered in 2016 built ultramax bulk carrier 60K DWT MV DSI Andromeda from Athens-based New York-listed shipowner and operator Diana Shipping (DSX). Switzerland-incorporated the USA-headquartered Bunge will pay a gross charter rate of $13,500 per day for MV DSI Andromeda. The charter period is set to run from November 24, 2023, until at least February 20, 2025, with the possibility of an extension up to April 20, 2025. This charter agreement is expected to generate approximately $6.03 million in gross revenue for the minimum scheduled period. Following the completion of the previously announced sale of the MV Boston, Diana Shipping’s fleet will consist of 40 dry bulk carriers. Bunge is a global agribusiness and food company that is incorporated in Switzerland and headquartered in St. Louis, Missouri, United States. Bunge company has a diverse range of operations, including soybean exporting, food processing, grain trading, and fertilizer production. Bunge plays a significant role in the international agricultural and food industry, with a focus on various aspects of the agribusiness supply chain. 21-November-2023
Koninklijke Bunge B.V. (Bunge), an entity fully owned by Bunge Ltd., an international agribusiness and food company, has partnered with Bahri Dry Bulk Co. (BDB), a subsidiary of the Bahri Group and the national maritime branch of Saudi Arabia, to form a joint venture focused on establishing a key ocean freight provider for dry bulk import and export in the Middle East. This new entity, named Bunge Bahri Dry Bulk Ltd., aims to offer freight transport services to clients in the region and globally. In its initial year, the company anticipates handling over 5 million tonnes, with plans to significantly increase this volume. Ownership is divided between BDB and Bunge at 60% and 40% respectively, and it will be headquartered in Dubai. Details of the financial arrangement remain undisclosed. Ibrahim Al-Omar, CEO of Bahri Dry Bulk Ltd., emphasized that this collaboration is a strategic move by BDB to simplify customer experiences in the supply chain. Bunge’s global expertise in commodity trading and the freight market, combined with Bahri’s maritime knowledge and regional prominence, is expected to fulfill the increasing demand for freight services in the Middle East. The venture will be equally financed by BDB and Bunge, focusing initially on chartering and operating supramax bulk carriers, panamax bulk carriers, or other suitable dry bulk vessels from BDB’s current fleet and eventually from external sources. Brian Thomsen, Bunge’s managing director and CEO, expressed excitement about partnering with BDB to expand Bunge’s influence in the Middle East. The joint venture is envisioned to become a preferred carrier for grain and agricultural commodity importers in the Middle East and for dry bulk exports from the region. This collaboration merges Bunge’s proficiency in freight services and risk management with BDB’s insights into Middle Eastern customer needs. Moreover, Bunge’s CEO Soren Schroder, during a conference call on February 15 discussing fiscal 2016 results, highlighted Bunge’s focus on maintaining a robust global presence, which has been vital in providing year-round customer service and fostering company growth. This includes various strategic initiatives like upgrading facilities in Brazil, expanding operations in New Orleans, Ukraine, and China, and acquiring additional soy crush capacity in Northern Europe. Additionally, Bunge’s CEO Soren Schroder pointed out Bunge’s commitment to strategic partnerships, with joint ventures in Brazil, Canada, and Vietnam, enhancing its competitive position and facilitating growth in a cost-effective manner. Bunge has also extended its market access through distribution partnerships in the Asia-Pacific region, notably in the Philippines. 22-February-2017