Financial Data and Key Metrics Changes - Time charter revenues for Q1 2025 were $54.9 million, a decrease of about 5% compared to $57.6 million in Q1 2024, attributed to a smaller fleet size and increased drydock days [14] - Adjusted EBITDA decreased to $23.3 million from $24.9 million in Q1 2024, a decrease of 6% [15] - Net income increased to $3 million from $2.1 million in Q1 2024, mainly due to decreased interest and finance charges [15] - Cash reserves decreased to $187.7 million from $207.2 million at the end of 2024 [16] - Long-term debt decreased to $623.9 million from $637.5 million, reflecting a 2% reduction [16] Business Line Data and Key Metrics Changes - Fleet utilization reached 99.6% in Q1 2025, up from 99.1% in the same quarter last year [19] - The average time charter equivalent rate was $50,739 per day, an increase of 5% compared to $15,051 per day in Q1 2024 [17][18] - Daily operating expenses increased by 2% to $5,866 per day compared to $5,775 per day in Q1 2024 [19] Market Data and Key Metrics Changes - The dry bulk market has shown dull performance in 2025, with new building vessel contracting slumping to only 0.1% of the global fleet [5][6] - The overall market levels remain historically healthy, but sentiment is lacking despite stable cargo volumes compared to 2024 [5] - Time charter rates for Capes dropped from a high of $35,000 per day in March 2024 to about $19,000 per day as of May 2025 [25] Company Strategy and Development Direction - The company focuses on a disciplined chartering strategy to ensure earnings visibility and resilience against market downturns [12][18] - Ongoing fleet modernization efforts include the sale of older vessels and investment in new joint ventures [8][10] - The company aims to leverage market volatility to deliver stable earnings through its commercial strategy [18] Management Comments on Operating Environment and Future Outlook - Management noted that the market is facing significant geopolitical and economic uncertainties, impacting sentiment and charter rates [5][24] - Despite current challenges, the company believes it is well-positioned with a strong balance sheet and predictable cash flows to navigate through cycles [22] - Future growth is expected to be influenced by macroeconomic conditions, with a cautious outlook for 2025 and 2026 [40][41] Other Important Information - The company declared a quarterly cash dividend of $0.01 per common share, totaling approximately $1.2 million [11] - The company has raised $25.6 million from the exercise of warrants under an ongoing program [10] Q&A Session Summary - No specific questions or answers were documented in the provided content, indicating that the Q&A session may not have included detailed inquiries or responses. The management concluded the call without further comments [45][46]

Financial Data and Key Metrics Changes - Time charter revenues for Q1 2025 were $54.9 million, a decrease of about 5% compared to $57.6 million in Q1 2024, attributed to a decrease in fleet size and increased drydock days [11] - Adjusted EBITDA decreased to $23.3 million from $24.9 million in Q1 2024, a decrease of 6% [12] - Net income increased to $3 million from $2.1 million in Q1 2024, mainly due to decreased interest and finance charges [12] - Cash reserves decreased to $187.7 million from $207.2 million at the end of 2024 [13] - Long-term debt decreased to $623.9 million from $637.5 million, reflecting a decrease of around 2% [13] Business Line Data and Key Metrics Changes - Fleet utilization reached 99.6% in Q1 2025, up from 99.1% in the same quarter last year [15] - The average time charter equivalent rate was $50,739 per day, an increase of 5% compared to $15,051 per day in Q1 2024 [14] - Daily operating expenses increased by 2% to $5,866 per day compared to $5,775 per day in Q1 2024 [16] Market Data and Key Metrics Changes - The dry bulk market has shown dull performance in 2025, with new building vessel contracting slumping to only 0.1% of the global fleet [4] - The overall market levels remain historically healthy, but sentiment is lacking despite stable cargo volumes compared to 2024 [4] - Time charter rates for Capesize vessels dropped from $35,000 per day in March 2024 to about $19,000 per day as of May 2025 [22] Company Strategy and Development Direction - The company focuses on staggered medium to long-term charters to avoid clustered maturities, ensuring earnings visibility and resilience against market downturns [10] - The company is modernizing its fleet and has secured improved charter hires, especially in the Capesize segment [5] - A strategic partnership was formed with an 80% equity interest in a joint venture to order new LPG vessels, indicating a diversification strategy [7] Management's Comments on Operating Environment and Future Outlook - Management noted that the market is facing global economic and geopolitical uncertainties, impacting sentiment and performance [4] - Despite negative market conditions, the company believes it is well-positioned with a strong balance sheet and predictable cash flows to navigate through cycles [19] - The company anticipates that current FFA rates are not strong due to market conditions, but it aims to capture market upside through its chartering strategy [19] Other Important Information - The company declared a quarterly cash dividend of $0.01 per common share, totaling approximately $1.2 million [9] - The company has raised $25.6 million from the exercise of warrants under an ongoing program, with potential to raise up to $64.9 million if all warrants are exercised [8] Q&A Session Summary - No specific questions or answers were documented in the provided content, indicating that the Q&A session may have been brief or not included in the records [41][42]

Financial Performance - Diana Shipping Inc. reported a net income of $3.0 million for Q1 2025, an increase from $2.1 million in Q1 2024. Net income attributed to common stockholders rose to $1.6 million from $0.6 million in the same period [1][13][26] - Earnings per share remained stable at $0.01 for both Q1 2025 and Q1 2024 [1][26] - Time charter revenues decreased to $54.9 million in Q1 2025 from $57.6 million in Q1 2024, attributed to decreased ownership days, although this was partially offset by increased average charter rates and fleet utilization [2][13] Dividend Declaration - The Company declared a cash dividend of $0.01 per share, payable on or about June 24, 2025, to shareholders of record as of June 17, 2025 [3] Fleet and Operations - As of May 27, 2025, the Company operated a fleet with an average age of 11.4 years and a fleet utilization rate of 99.6% [14] - The average number of vessels decreased from 39.7 in Q1 2024 to 37.8 in Q1 2025, with ownership days dropping from 3,613 to 3,401 [14] Cash Flow and Financial Position - Net cash provided by operating activities was $17.2 million in Q1 2025, down from $37.965 million in Q1 2024 [29] - Total assets decreased to $1.143 billion as of March 31, 2025, from $1.171 billion at the end of 2024 [27]

ATHENS, Greece, May 27, 2025 (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 through a separate wholly-owned subsidiary, it has entered into a time charter contract with Refined Success Limited, for one of its Newcastlemax dry bulk vessels, the m/v Philadelphia. The gross charter rate is US$21,500 per day, minus a 5.00% commission paid to third parties, for a period ...

ATHENS, Greece, May 19, 2025 (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 first quarter ended March 31, 2025 are scheduled to be released before the opening of the U.S. financial markets on Thursday, May 29, 2025. The Company’s management will conduct a conference call and simultaneous Internet webcast to review these results at 9:00 ...

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 [2] - The company's vessels are primarily employed on short to medium-term charters, transporting a range of dry bulk cargoes including iron ore, coal, and grain along worldwide shipping routes [2] Annual Meeting Announcement - The company will hold its 2025 Annual Meeting of Shareholders on May 28, 2025, at 8:00 a.m. Eastern Time in a virtual format only [1] - All shareholders of record as of April 21, 2025, are invited to attend the meeting by following the instructions in the Notice of Annual Meeting of Shareholders and accompanying proxy statement available on the SEC website [1]

Core Viewpoint - Diana Shipping Inc. has entered into a time charter contract with China Resource Chartering Pte. Ltd. for its Panamax dry bulk vessel, the m/v Ismene, with a gross charter rate of US$11,000 per day, expected to generate approximately US$3.54 million in gross revenue for the minimum scheduled period of the charter [1][2]. Group 1: Charter Contract Details - The time charter for the m/v Ismene is set to commence on April 26, 2025, and will last until at least March 20, 2026, with a maximum end date of May 20, 2026 [1]. - The charter rate is US$11,000 per day, with a 5.00% commission paid to third parties [1]. Group 2: Fleet Information - Diana Shipping Inc. currently operates a fleet of 37 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 vessels not yet delivered, is approximately 4.1 million dwt, with a weighted average age of 11.46 years [3]. - The company expects to take 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].

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 [3] - The company's vessels primarily operate on short to medium-term charters, transporting various dry bulk cargoes such as iron ore, coal, and grain along worldwide shipping routes [3] Milestone Celebration - The company will celebrate its 20th anniversary as a NYSE listed company on April 1, 2025, with CEO Ms. Semiramis Paliou and the executive team ringing the Closing Bell [1] - Ms. Paliou expressed gratitude for the trust of shareholders and partners, highlighting two decades of shared progress and partnerships [2] - An investor meeting will be held prior to the Closing Bell, with a presentation available on the company's website [2]

Core Viewpoint - Diana Shipping Inc. has entered into a time charter contract with Cargill International SA for its Panamax dry bulk vessel, the m/v Leto, at a gross charter rate of US$12,750 per day, expected to generate approximately US$5.93 million in gross revenue for the minimum scheduled period of the charter [1][2]. Group 1: Charter Agreement Details - The time charter for the m/v Leto is set to commence on March 31, 2025, and will last until at least July 16, 2026, with a maximum end date of September 16, 2026 [1]. - The charter rate is subject to a 4.75% commission paid to third parties [1]. Group 2: Fleet Information - Diana Shipping Inc. currently operates a fleet of 37 dry bulk vessels, including various types such as Newcastlemax, Capesize, and Panamax [3]. - The total carrying capacity of the fleet, excluding two vessels not yet delivered, is approximately 4.1 million deadweight tons (dwt), with a weighted average age of 11.40 years [3]. - The company expects to take delivery of two new methanol dual fuel 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 filed its 2024 Annual Report on Form 20-F with the United States Securities and Exchange Commission, which includes audited financial statements and is available for download on the company's website [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 [2] - The company's vessels are primarily employed on short to medium-term charters, transporting a variety of dry bulk cargoes such as iron ore, coal, and grain along worldwide shipping routes [2]