Diana Shipping (NYSE:DSX) Q4 2025 Earnings call February 26, 2026 09:00 AM ET Company ParticipantsDave Van der Linden - Chief Commercial OfficerMaria Dede - co-CFO and TreasurerSemiramis Paliou - Director and CEOOperatorThank you for standing by, ladies and gentlemen, and welcome to the Diana Shipping Inc. conference call on the fourth quarter and year-end 2025 financial results. We are joined by the company's Chief Executive Officer, Ms. Semiramis Paliou. At this time, all participants are in a listen-only ...

We create to share Financial Results for the 4 th Quarter of 2025 February 26, 2026 Our Presenting Team Director & President Ioannis Zafirakis Semiramis Paliou Director & Chief Executive Officer Maria Dede Co-CFO & Treasurer Our Company's confidence stems from our established track record We create to share 2 Chief Commercial Officer of Diana Shipping Services S.A. Dave Van der Linden Maria Dede Financial Results for the 4th Quarter of 2025 We create to share 3 This presentation does not constitute Diana's ...

ATHENS, Greece, Feb. 26, 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 reported net income of $3.1 million and net income attributable to common stockholders of $1.7 million for the fourth quarter of 2025. This compares to net income of $9.7 million and net income attributable to common stockholders of $8.3 million for the fourth quarter of 2024. Earnings per share for the ...

Core Viewpoint - Diana Shipping Inc. has entered into a time charter contract for its Post-Panamax dry bulk vessel, m/v Phaidra, with Nippon Yusen Kabushiki Kaisha, which is expected to enhance the company's revenue stream significantly [1][2]. Group 1: Charter Agreement Details - The gross charter rate for the m/v Phaidra is set at US$14,500 per day, with a 5.00% commission deducted for third parties, for a period extending from February 24, 2026, to a minimum of February 20, 2027, and a maximum of April 20, 2027 [1]. - The m/v Phaidra is currently under a different charter at a gross rate of US$9,750 per day, also subject to a 5.00% commission [1]. Group 2: Revenue Generation - The employment of the m/v Phaidra is projected to generate approximately US$5.18 million in gross revenue for the minimum scheduled period of the time charter [2]. Group 3: Fleet Composition - Diana Shipping Inc. currently operates a fleet of 36 dry bulk vessels, including various classes such as Newcastlemax, Capesize, Post-Panamax, Kamsarmax, Panamax, and Ultramax [3]. - The total carrying capacity of the fleet, excluding two vessels yet to be delivered, is approximately 4.1 million dwt, with a weighted average age of 12.22 years [3]. - The company anticipates the 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 4: Company Overview - Diana Shipping Inc. specializes in shipping transportation services through the ownership and bareboat charter-in of dry bulk vessels, primarily engaging 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. is set to release its financial results for Q4 and the full year of 2025 on February 26, 2026, before U.S. market opening [1]. Financial Results Announcement - The financial results will be reviewed in a conference call and webcast scheduled for 9:00 A.M. Eastern Time on February 26, 2026 [2]. - Investors can access the webcast through the company's website, where an investor presentation will also be available [3]. Replay Information - A replay of the webcast will be available for 30 days post-call on the company's website, with a telephone replay option also provided [4]. Company Overview - Diana Shipping Inc. specializes in the ownership and bareboat charter-in of dry bulk vessels, primarily engaging in short to medium-term time charters for transporting various dry bulk cargoes, including iron ore, coal, and grain [5].

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.

Group 1 - The focus is on producing objective, data-driven research primarily about small- to mid-cap companies, which are often overlooked by many investors [1] - Occasionally, large-cap companies are analyzed to provide a broader perspective on the equity markets [1] Group 2 - There is no current stock, option, or similar derivative position in any of the companies mentioned, but there may be plans to initiate a beneficial long position in DSX within the next 72 hours [2] - The article expresses the author's own opinions and is not influenced by compensation from any company mentioned [2]

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]