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Diana Shipping Secures New Time Charter Contract
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Overview
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Diana Shipping secures a new time charter contract for its dry bulk vessel, m/v Leonidas P. C., with Ming Wah International Shipping Company Limited, at a daily gross charter rate of $17,000. The charter period extends from February 21, 2024, to October 20, 2025, with a possibility of extension. The company's fleet consists of 39 dry bulk vessels, with a combined carrying capacity of around 4.5 million dwt. The company's management is optimistic about its chartering strategy, considering its market capitalization of $313.5 million, a low P/E ratio of 4.7, and a gross profit margin of 65.21% for the same period as of Q3 2023.
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How does Diana Shipping's market capitalization and dividend yield reflect its financial health and investment attractiveness?
How might the new time charter contract impact Diana Shipping's revenue and market position?
What factors contribute to the company's optimistic chartering strategy and its potential for profitability?
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uk.in