Diana Shipping Details Buybacks, Genco Bid, and Decarbonization Plan at Capital Link Conference

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]