Reachy Shipping

Reachy Shipping (SGP) Pte Ltd, a ship operator based in Singapore, has chartered the 2012-built post-panamax bulk carrier MV Polymnia (98K DWT) from Diana Shipping (DSX), a shipowner and operator based in Athens and listed on the New York Stock Exchange. Reachy Shipping (SGP) Pte Ltd will pay a gross charter rate of $17,500 for MV Polymnia for a period ranging from a minimum of August 1, 2025, to a maximum of September 30, 2025. The 2012-built post-panamax bulk carrier MV Polymnia is currently chartered to Cobelfret Bulk Carriers CLdN, a shipowner and operator based in Antwerp, at a gross charter rate of $15,000 per day. Reachy Shipping (SGP) Pte Ltd will take delivery of MV Polymnia on June 8, 2024, and will pay $7.25 million in gross revenue for the minimum scheduled period of the time charter. Upon completing the previously announced sale of the MV Houston bulker, Diana Shipping’s (DSX) fleet, led by Semiramis Paliou, will consist of 38 dry bulk carriers – 4 newcastlemax bulk carriers, 8 capesize bulk carriers, 5 post-panamax bulk carriers, 6 kamsarmax bulk carriers, 6 panamax bulk carriers, and 9 ultramax bulk carriers. Additionally, Diana Shipping (DSX) expects to take delivery of two methanol dual fuel new-building kamsarmax bulk carriers by Q3 2027 and Q1 2028, respectively. 5-June-2024

 

Diana Shipping Inc. (DSX), a prominent shipowning and operating company headquartered in Athens and listed on the New York Stock Exchange, has successfully secured a time charter contract with the renowned Paris-based shipowning and management company Louis-Dreyfus Armateurs (LDA) for one of its top-tier ice-class Panamax bulk carriers. The ship in question, the MV Crystalia, a 77,000 DWT ice-class Panamax bulk carrier built in 2014, has been leased to Louis-Dreyfus Armateurs (LDA) at a daily gross charter rate of $13,900. This agreement stipulates a charter period that extends from a minimum of 21 months to a maximum of 25 months, with the charter’s initiation anticipated in the second quarter of 2024. Under the adept leadership of Semiramis Paliou, Diana Shipping Inc. (DSX) is projected to accrue approximately $8.7 million in gross revenue from this charter over its minimum duration. Before this new arrangement, MV Crystalia was involved in a charter extension agreement with Reachy Shipping, a noted shipping company with a strategic focus on providing specialized and reliable bulk carrier services. This previous engagement began on September 6, 2023, and was set to continue until at least February 20, 2024, with the possibility of an extension until April 20, 2024. Singapore-based ship operator Reachy Shipping (SGP) Pte Ltd is recognized for its commitment to operational excellence and its diversified fleet capable of meeting various cargo transportation needs, further emphasizing the strategic importance of MV Crystalia within the bulk shipping sector. Upon the conclusion of the sales of MV Houston and MV Artemis, the fleet of Diana Shipping Inc. (DSX) will be composed of 38 dry bulk vessels. This includes four Newcastlemax, eight Capesize, five Post-Panamax, six Kamsarmax, six Panamax, and nine Ultramax bulk carriers. Moreover, Diana Shipping Inc. (DSX) is eagerly anticipating the arrival of two methanol dual-fuel Kamsarmax bulk carrier newbuilds by the final quarter of 2027, marking a significant step towards sustainability and innovation in its fleet operations. As it stands, including the contributions of MV Houston and MV Artemis yet excluding the two vessels awaiting delivery, Diana Shipping Inc. (DSX)’s fleet boasts a combined carrying capacity of roughly 4.5 million DWT, reinforcing its position as a leading entity in the global maritime logistics and transportation industry. 5-March-2024

 

Singapore-based ship operator Reachy Shipping (SGP) Pte Ltd extended the charter of 2014 built ice-class panamax bulk carrier 77K DWT MV Crystalia from Athens-based New York-listed shipowner and operator Diana Shipping (DSX). Singapore-based ship operator Reachy Shipping (SGP) Pte Ltd will pay $11,250 per day for MV Crystalia. Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) has graciously prolonged the time charter contract with Singapore-based ship operator Reachy Shipping (SGP) Pte Ltd pertaining to one of its distinguished ice-class panamaxes. The grand charter rate for this magnificent ice-class panamax bulk carrier 77K DWT MV Crystalia stands at $11,250 daily. Further elaboration from Reachy Shipping (SGP) Pte Ltd indicated that this renewed charter commenced on 6 September 2023 and is poised to persist until at least 20 February 2024, stretching potentially to 20 April 2024. Such an extension is projected to amass an approximate $1.85 million in gross revenue throughout the minimal stipulated duration of the time charter. Historically, the primary accord concerning the 2014 built ice-class panamax bulk carrier 77K DWT MV Crystalia and Reachy Shipping (SGP) Pte Ltd materialized in November 2022. This agreement was initially slated to conclude between 1 September 2023, and 15 October 2023, with a previously settled charter rate of $12,500 per day. Presently, Athens-based New York-listed shipowner and operator Diana Shipping’s (DSX) fleet encompasses 41 dry bulk carriers– a compilation of four (4) newcastlemax bulk carriers, ten (10) capesize bulk carriers, five (5) post-panamax bulk carriers, six (6) kamsarmax bulk carriers, seven (7) panamax bulk carriers, and nine (9) ultramax bulk carriers. 11-September-2023

 

Singapore-based ship operator Reachy Shipping (SGP) Pte Ltd, Costamare Bulkers, and Cobelfret have entered the dry bulk period charter market with a desire to secure kamsarmax bulk carriers for charters lasting over a year. Athens-based New York-listed shipowner and operator Diana Shipping (DSX) controlled 2015 built kamsarmax bulk carrier 81K DWT MV Astarte has successfully chartered out to the esteemed operator, Reachy Shipping (SGP) Pte Ltd, based in Singapore, at an impressive rate of $15,000 per day. This charter is set to commence on Sunday and extend until a period between 1st August and 1st October 2024. It is noteworthy that the rate achieved is well below current market assessments for such period charters. 26-April-2023

 

Athens-based New York-listed shipowner and operator Diana Shipping (DSX) chartered out three (3) bulk carriers to different ship operators. Diana Shipping (DSX) chartered out 2017 built ultramax bulk carrier 60K DWT MV DSI Phoenix to Hong Kong-based ASL Bulk Marine at $13,250 per day for 16 months to 18 months. Diana Shipping (DSX) chartered out 2012 built post-panamax bulk carrier 98K DWT MV Amphitrite to Luxembourg-based Cobelfret at $14,250 per day for 13 months. Diana Shipping (DSX) chartered out 2014 built panamax bulk carrier 77K DWT MV Crystalia to Singapore-based ship operator Reachy Shipping (SGP) Pte Ltd at $12,500 per day. The latest time-charter contracts indicate that period rates are eroding. Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) will earn around $15 million from the trio deal. Previously, Athens-based New York-listed shipowner and operator Diana Shipping (DSX) signed charter deals for two (2) bulk carriers that reflected similar trends. Currently, Athens-based shipowner and operator Diana Shipping (DSX) owns and operates 36 bulk carriers. 7-November-2022

 

Athens-based New York-listed shipowner and operator Diana Shipping (DSX) has unlocked liquid assets through the sale and leaseback of a recently bestowed ultramax bulk carrier while fixing another one for no less than $8.1 million. Athens-based Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) is anticipating gross proceeds of $29.85 million by the culmination of the fourth quarter from an agreement with a Japanese third party for the 2016 built ultramax bulk carrier 60K DWT MV DSI Andromeda (ex MV STH Tokyo). 2016 built ultramax bulk carrier 60K DWT MV DSI Andromeda (ex MV STH Tokyo), presently on time charter with Western Bulk Carriers (WBC) between October 16, 2023, and December 16, 2023, at a rate of $14,250 per day, will be bareboat chartered-in by Diana Shipping (DSX) for a duration of 10 years. Diana Shipping (DSX) will possess purchase options commencing at the termination of the third year of the charter. Meanwhile, Athens-based New York-listed shipowner and operator Diana Shipping (DSX) has chartered out its 2015 built ultramax bulk carrier 60K DWT MV DSI Pegasus (ex MV STH Athens) to Singapore-based ship operator Reachy Shipping (SGP) Pte Ltd at a daily rate of $14,000 between July 15, 2024, and September 15, 2024. The charter of the MV DSI Pegasus (ex MV STH Athens), which will be delivered to Singapore-based ship operator Reachy Shipping (SGP) Pte Ltd earlier this month, is scheduled to commence on December 7. 6-December-2022

 

Singapore-based ship operator Reachy Shipping (SGP) Pte Ltd and Athens-based New York-listed shipowner and operator Diana Shipping (DSX) have engaged in a temporal charter agreement for 2004 built panamax bulk carrier 73K DWT MV Protefs. The charter commenced at the outset of this week, Singapore-based ship operator Reachy Shipping (SGP) Pte Ltd will pay at a rate of $10,650 per day until 20 May 2022. Previously, the 2004 built panamax bulk carrier 73K DWT MV Protefs was under charter with Phaethon International Company at a daily rate of $9,900. Reachy Shipping (SGP) Pte Ltd will pay approximately $4.17 million, considering the minimum charter duration. 9-February-2021