Time charter revenues were $54.7 million for the first quarter of 2026, compared to $54.9 million for the same quarter of 2025. The slight decrease in time charter revenues, compared to the same quarter of the prior year, was due to decreased ownership days following the sale of one vessel and was partially offset by higher average charter rates and improved fleet utilization.
Dividend Declaration
The Company has declared a cash dividend on its common stock of $0.01 per share, based on the Company's results of operations during the first quarter ended March 31, 2026. The cash dividend will be payable on or about June 18, 2026, to all common shareholders of record as of June 10, 2026. As of May 27, 2026, the Company had 124,402,479 common shares issued and outstanding and 15,689,643 warrants outstanding.
Fleet Employment (As of May 26, 2026)
VESSEL
SISTER SHIPS*
GROSS RATE (USD PER DAY)
COM**
CHARTERERS
DELIVERY DATE TO CHARTERERS***
REDELIVERY DATE TO OWNERS****
NOTES
BUILT DWT
9 Ultramax Bulk Carriers
1
DSI Phoenix
A
13,500
4.75
%
Cargill Ocean Transportation (Singapore) Pte. Ltd.
8-Aug-25
1/Oct/2026 - 30/Nov/2026
2017 60,456
2
DSI Pollux
A
14,750
5.00
%
Stone Shipping Ltd
9-Dec-25
1/Jan/2027 - 28/Feb/2027
2015 60,446
3
DSI Pyxis
A
13,100
5.00
%
Stone Shipping Ltd
8-Nov-24
3-May-26
1
2018 60,362
16,000
5.00
%
Oldendorff GmbH & Co. KG
3-May-26
15/Jun/2027 - 15/Aug/2027
4
DSI Polaris
A
12,250
4.75
%
Cargill Ocean Transportation (Singapore) Pte. Ltd.
1-Jul-25
21/Jul/2026 - 21/Sep/2026
2018 60,404
5
DSI Pegasus
A
14,250
4.75
%
Cargill Ocean Transportation (Singapore) Pte. Ltd
15-Aug-25
30/May/2026 - 20/Jul/2026
2
2015 60,508
6
DSI Aquarius
B
14,500
5.00
%
Bunge SA, Geneva
7-Nov-25
1/Nov/2026 - 31/Dec/2026
3
2016 60,309
7
DSI Aquila
B
14,500
5.00
%
Bunge SA, Geneva
12-Oct-25
25/Feb/2027 - 25/Apr/2027
2015 60,309
8
DSI Altair
B
14,750
5.00
%
Bunge SA, Geneva
19-Jan-26
15/Jan/2027 - 30/Mar/2027
4
2016 60,309
9
DSI Andromeda
B
14,600
5.00
%
Western Bulk Carriers AS
7-Dec-25
1/Apr/2027 - 31/May/2027
5
2016 60,309
5 Panamax Bulk Carriers
10
LETO
12,750
4.75
%
Cargill International SA, Geneva
4-Apr-25
16/Jul/2026 - 16/Sep/2026
2010 81,297
11
MAERA
11,750
5.00
%
CRC Shipping Pte. Ltd., Singapore
3-Nov-25
20/Oct/2026 - 20/Dec/2026
2013 75,403
12
ISMENE
11,000
5.00
%
CRC Shipping Pte. Ltd.
24-Apr-25
14-Jun-26
2,6
2013 77,901
13
CRYSTALIA
C
13,900
5.00
%
Louis Dreyfus Company Freight Asia Pte. Ltd.
4-May-24
14-Mar-26
2014 77,525
16,200
5.00
%
SwissMarine Pte. Ltd., Singapore
14-Mar-26
10/Mar/2027 - 10/May/2027
14
ATALANDI
C
10,100
5.00
%
Stone Shipping Ltd
8-Jun-25
15/Jun/2026 - 15/Aug/2026
7
2014 77,529
6 Kamsarmax Bulk Carriers
15
MAIA
D
11,600
5.00
%
Paralos Shipping Pte. Ltd.
9-Dec-24
16-Jan-26
8
2009 82,193
14,000
5.00
%
16-Jan-26
5/Jul/2027 - 5/Sep/2027
16
MYRSINI
D
13,000
4.75
%
Cargill International SA, Geneva
26-Feb-25
3-Jan-26
2010 82,117
13,500
5.00
%
Paralos Shipping Pte. Ltd.
3-Jan-26
20/Dec/2026 - 20/Feb/2027
17
MEDUSA
D
13,000
4.75
%
Cargill International SA, Geneva
16-Mar-25
