The firm Diana Shipping has confirmed the signing of a time charter contract for its unit m/v Crystalia, establishing a strategic alliance with the prestigious Singapore-based SwissMarine.
The Chartering of the Bulk Carrier m/v Crystalia
Under the terms of this new agreement, the bulk carrier will operate at a gross rate of USD 16,200 per day. This amount represents a substantial improvement compared to the previous contract with Louis Dreyfus Company Freight Asia, which was set at USD 13,900 per day.
Likewise, this contractual agreement is expected to formally commence on March 11, 2026, and extend at least until March 2027, ensuring notable operational stability for the company’s subsidiary.
From a financial perspective, the company’s management anticipates that the employment of the Crystalia will generate approximately USD 5.78 million in gross revenue during the minimum agreed period. This figure improves the organization’s liquidity position and validates its ability to negotiate favorable terms in the Panamax segment.
Immediately after analyzing its operations, it becomes clear that delivery time management is impeccable. The vessel will transition almost seamlessly from its current charter to the new phase with SwissMarine. The organization’s total fleet now comprises 36 dry cargo units, ranging from Newcastlemax to Ultramax, consolidating a logistical capacity of 4.1 million deadweight tons.
Beyond current contracts, the company is looking with determination towards the future of maritime propulsion. It is currently awaiting the delivery of two new methanol and dual-fuel Kamsarmax bulk carriers, scheduled for delivery between 2027 and 2028.
Source and photo: Diana Shipping