Diana Shipping has revealed two new bulker charters at higher rates to big-name players.

The New York-listed Greek shipowner said its 87,100-dwt post-panamax Electra (built 2013) has clinched a deal with Cosco-controlled Refined Success at $17,500 per day up to 1 April 2023.

The charter could stretch to 30 May.

The ship was previously chartered to Raffles Shipping International at $16,500 per day.

Diana has also fixed the 177,900-dwt capesize New York (built 2010) to John Michael Radziwill-led C Transport Maritime (CTM) at $23,000 per day through to 10 June next year, with extensions possible until 25 August.

It had been earning $14,000 per day with EGPN Bulk Carrier Co.

The two charters are expected to generate about $12.5m in revenue over the minimum terms.

Diana will pay a 5% commission on both charters, but is still left with “very healthy economics” from its $14,400 cash breakeven figure, Fearnley Securities said.

The company had already secured revenue for 2022 well above this level.

“There is still a way to go to before 2023 is covered, but the two additions are both strong contributions towards this,” Fearnleys added.

“The company has a proven track record of maintaining a strong balance sheet and throughout the cycles and now also built strong earnings visibility.”

Spin-off fixes panamax

The Diana fleet consists of 34 bulkers.

Meanwhile, Nasdaq-listed Diana spin-off OceanPal has fixed a panamax to ETG Commodities.

The 73,700-dwt Calipso (built 2005) will earn $19,600 per day for about 90 days, bringing in revenue of $1.76m.

The fleet also comprises another panamax and a capesize.

Last month, OceanPal booked the capesize for more than twice its previous rate.

The spin-off, launched last year, said chartering giant Koch Shipping had taken its 171,800-dwt Salt Lake City (built 2005) for between four and seven months at $29,750 per day.

The bulker was coming off a similar term deal to CTM this month at $13,000 per day.