ATHENS, Greece, Feb. 03, 2026 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that its financial results for the fourth quarter and year ended December 31, 2025 are scheduled to be released before the opening of the U.S. financial markets on Thursday, February 26, 2026. The Company’s management will conduct a conference call and simultaneous Internet webcast to review th ...

Core Insights - Diana Shipping repurchased approximately 11.5 million common shares for a total of $22.9 million and became a strategic partner in new LPG vessels during 2025 [1][6] - The company reported carrying over 17.5 million tons and employing more than 950 people in various roles during the first nine months of 2025 [2] - Diana Shipping has a formal decarbonization plan that has improved fleet efficiency by around 15% and is renewing its fleet with two methanol dual-fuel vessels expected to be delivered by early 2028 [4][17] Financial Performance - Management locked in about 71% of remaining 2026 ownership days with average fixed revenues of approximately $17,700 per day, reporting cash reserves of $133 million [5][7] - The company’s cash break-even point is estimated at around $16,800 per day, with projected average revenues of $17,200 per day for 2026 [14] - Diana Shipping's loan-to-value ratio increased from 43% to 53% year-over-year, but management indicated strong visibility on deleveraging due to a favorable debt profile [13] Corporate Actions - Diana Shipping acquired a 14.8% stake in Genco Shipping & Trading and proposed an all-cash offer of $20.60 per share for the remaining shares, which was rejected by Genco's board [6][8] - The company plans to nominate six independent directors to Genco's board for the 2026 annual meeting, believing that a combination would enhance operational leverage [9] Market Outlook - The market outlook for 2026 anticipates global GDP growth of about 3.3%, with controlled fleet growth and a focus on iron ore and bauxite demand supporting Capesize vessels [16] - The company avoids operations in conflict-prone regions like the Red Sea and Black Sea, maintaining a disciplined chartering strategy to reduce risk [11][16] Sustainability and ESG Initiatives - Diana Shipping has published six ESG reports since 2019 and has initiated external assurance for its sustainability practices [18] - The company’s decarbonization strategy includes operational measures and fleet renewal to enhance efficiency and reduce emissions [17]

Summary of Diana Shipping Inc. Conference Call Company Overview - **Company Name**: Diana Shipping Inc. - **Industry**: Shipping transportation services, specifically dry bulk vessels - **Ticker Symbol**: DSX (listed on the New York Stock Exchange) - **Founded**: Predecessors established in 1972, public since 2005 - **Current Fleet**: 36 vessels with an average age of 12.17 years and a carrying capacity above 4 million deadweight tons [1][6][7] Key Financial Highlights - **Revenue**: Secured $168+ million in revenues as of the latest update [8] - **Cash Position**: Approximately $134 million at the end of Q3 2025 [8] - **Share Repurchase**: Repurchased 11.5 million shares for $22.9 million in 2025 [9] - **Debt Profile**: Net debt to fleet value at 53%, with no debt maturities before 2029 [7][15][33] - **Dividend**: Consistent quarterly dividends since 2021, totaling $2.69 per common share [18] Strategic Developments - **Acquisition of Genco Shipping**: Proposal to acquire all outstanding shares at $20.6 per share, rejected by Genco's board [11][35] - **New Vessel Orders**: Two methanol dual fuel propulsion Kamsarmax vessels expected for delivery in late 2027 to early 2028 [6] - **Chartering Strategy**: Focus on medium to long-term charters, with an average daily rate of $17,700 for 2026 [14] Market Outlook - **2025 Performance**: Mixed results with a strong recovery in the second half, despite initial demand slowdowns [24][25] - **2026 Projections**: Global GDP growth expected at 3.3%, with stable dry bulk trade supported by iron ore and bauxite shipments [26][27] - **Supply Dynamics**: Controlled supply growth with low scrapping rates; fleet size at over 14,500 ships [28] ESG Commitment - **Sustainability Focus**: Strong emphasis on ESG practices, with a published 2024 ESG report highlighting commitment to sustainable operations [20][48] - **Decarbonization Strategy**: Includes operational measures and fleet renewal to improve efficiency by nearly 15% over the past few years [45][46] Management Team - **Key Executives**: - Ioannis Zafirakis (CEO) - Maria Dede (Co-CFO) - Margarita Veniou (Chief Corporate Development Officer) - Evangelos Sfakiotakis (Chief Technical Investment Officer) - Dave van der Linden (Chief Commercial Officer) [4][5] Additional Insights - **Geopolitical Risks**: Ongoing uncertainties in global trade policies and geopolitical tensions affecting the shipping industry [29][30] - **Market Strategy**: Non-speculative and disciplined approach to chartering, maintaining a solid balance sheet and cash position [21][22] This summary encapsulates the key points discussed during the conference call, providing a comprehensive overview of Diana Shipping Inc.'s current status, strategic initiatives, and market outlook.

I focus on producing objective, data-driven research, mostly about small- to mid-cap companies, as these tend to be overlooked by many investors. From time to time, though, I also look at large-cap names, just to give a fuller sense of the broader equity markets.Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in ...

Core Viewpoint - Diana Shipping Inc. intends to nominate six independent director candidates to Genco's Board of Directors, citing the current Board's failure to engage with Diana regarding its acquisition proposal and the need for meaningful change to maximize shareholder value [1][2][4]. Group 1: Acquisition Proposal - Diana proposed to acquire all outstanding shares of Genco not owned by it for $20.60 per share in cash, which represents an attractive premium for Genco shareholders [2][16]. - The current Genco Board took over six weeks to respond to Diana's proposal and did not engage in discussions regarding its financial or structural elements [2][3]. - Diana's offer is backed by a financing letter from two leading shipping banks, indicating strong financial support for the acquisition [2]. Group 2: Board Nomination - Diana believes that Genco shareholders would benefit from electing directors who are open to exploring strategic alternatives, including a serious consideration of Diana's acquisition proposal [2][4]. - The nominated candidates possess extensive experience in shipping, finance, mergers and acquisitions, and corporate governance, which Diana believes will enhance the Board's effectiveness [1][4][10][16]. - Notable nominees include Gustave Brun-Lie, Chao Sih Hing Francois, and Paul Cornell, each bringing decades of relevant industry experience [4][10][5]. Group 3: Company Background - Diana Shipping Inc. specializes in the ownership and bareboat charter-in of dry bulk vessels, primarily transporting commodities such as iron ore, coal, and grain [7]. - The company currently owns approximately 14.8% of Genco's outstanding shares, making it the largest shareholder [1][16].

Group 1 - Diana Shipping plans to initiate a proxy fight to replace all six directors of Genco Shipping & Trading [1] - This decision comes shortly after Genco's board rejected Diana's proposal [1]

Core Viewpoint - Diana has proposed to acquire Genco for $20.60 per share in cash, which reflects a 15% premium over Genco's closing price on November 21 [1] Company Summary - Diana holds approximately 14.8% of Genco's shares [1] - The acquisition offer was made on November 24 [1]

Core Viewpoint - Diana Shipping Inc. has expressed disappointment over the Genco Board's rejection of its acquisition proposal without any engagement, emphasizing the offer's value for Genco's shareholders [1][2][6]. Group 1: Acquisition Proposal - Diana Shipping proposed to acquire all outstanding shares of Genco for $20.60 per share in cash, which represents a 23% premium to the volume-weighted average price (VWAP) of Genco's shares for the 30-day and 90-day periods ending November 21, 2025 [2][9]. - The proposal was publicly disclosed on November 24, 2025, but was rejected by the Genco Board after more than six weeks without any discussion or clarification [3][6]. - The offer is backed by a letter from DNB Bank and Nordea Bank, which are prepared to finance up to $1,102 million in new debt to support the acquisition and refinance Genco's existing debt [4]. Group 2: Genco Board's Response - The Genco Board suggested a potential acquisition of Diana instead, but did not provide any specific financial terms, which Diana views as a tactic to dismiss its offer [5][6]. - Diana has consistently sought to engage with the Genco Board regarding its proposal, which includes actionable financial and structural terms [5][6]. Group 3: Company Statements - Diana's CEO, Semiramis Paliou, reiterated the company's willingness to discuss the proposal and address any concerns raised by Genco's Board [6]. - The company is considering all options to advance its acquisition offer for Genco [7].

Core Viewpoint - Diana Shipping Inc. has entered into a time charter contract with Bunge SA for its Ultramax dry bulk vessel, the m/v DSI Altair, at a gross rate of US$14,750 per day, expected to generate approximately US$5.30 million in gross revenue for the minimum charter period [1][2]. Group 1: Charter Agreement Details - The time charter for the m/v DSI Altair is set to commence on January 17, 2026, and will last until at least January 15, 2027, with a maximum end date of March 30, 2027 [1]. - The charter rate is subject to a 5.00% commission paid to third parties [1]. Group 2: Fleet Information - Diana Shipping Inc. currently operates a fleet of 36 dry bulk vessels, including various types such as Newcastlemax, Capesize, Post-Panamax, Kamsarmax, Panamax, and Ultramax [3]. - The total carrying capacity of the fleet, excluding two new vessels yet to be delivered, is approximately 4.1 million deadweight tons (dwt), with a weighted average age of 12.14 years [3]. - The company anticipates the delivery of two methanol dual fuel new-building Kamsarmax dry bulk vessels by the second half of 2027 and the first half of 2028 [3]. Group 3: Company Overview - Diana Shipping Inc. specializes in shipping transportation services through the ownership and bareboat charter-in of dry bulk vessels, primarily engaged in short to medium-term time charters [4]. - The vessels transport a variety of dry bulk cargoes, including iron ore, coal, and grain, along global shipping routes [4].

Core Viewpoint - Diana Shipping Inc. has entered into a time charter contract for its Kamsarmax dry bulk vessel, the m/v Maia, with Paralos Shipping Pte. Ltd., at a gross charter rate of US$14,000 per day, effective from January 13, 2026, until a minimum of July 5, 2027, and a maximum of September 5, 2027 [1] Company Overview - Diana Shipping Inc. is a global provider of shipping transportation services, specializing in the ownership and bareboat charter-in of dry bulk vessels, primarily engaged in short to medium-term time charters [4] - The company’s fleet consists of 36 dry bulk vessels, including various classes such as Newcastlemax, Capesize, Post-Panamax, Kamsarmax, Panamax, and Ultramax [3] - The combined carrying capacity of the fleet, excluding two vessels not yet delivered, is approximately 4.1 million dwt, with a weighted average age of 12.13 years [3] Financial Impact - The new charter for the m/v Maia is expected to generate approximately US$7.45 million in gross revenue for the minimum scheduled period of the time charter [2] - The previous charter rate for the m/v Maia was US$11,600 per day, indicating an increase in the charter rate with the new contract [1] Future Developments - The company anticipates taking delivery of two methanol dual fuel new-building Kamsarmax dry bulk vessels by the second half of 2027 and the first half of 2028 [3]