Diana Shipping Inc. Reports Financial Results for the Second Quarter and Six Months Ended June 30, 2026; and Declares Cash Dividend of $0.01 Per Common Share for the Second Quarter 2026
Rhea-AI Summary
Diana Shipping (NYSE: DSX) reported strong results for Q2 2026, with net income of $20.8 million and net income attributable to common stockholders of $19.3 million, up from $4.5 million and $3.1 million in Q2 2025. Basic and diluted EPS were $0.17 and $0.16, versus $0.03 a year earlier. Time charter revenues rose to $57.3 million from $54.7 million, driven by higher average charter rates, partly offset by fewer ownership days.
For the first half of 2026, net income reached $49.9 million and net income attributable to common stockholders was $47.0 million, compared with $7.5 million and $4.7 million in 2025. H1 2026 time charter revenues were $112.0 million versus $109.6 million. The Company’s Q2 2026 TCE rate was $16,581 per day (up from $15,492), with fleet utilization of 99.6%. The board declared a $0.01 per-share cash dividend for Q2 2026, payable September 11, 2026, to shareholders of record on August 21, 2026. As of July 29, 2026, Diana had 36 vessels in its dry bulk fleet and 124.4 million common shares outstanding.
Positive
- Q2 2026 net income $20.8m vs. $4.5m in Q2 2025
- H1 2026 net income $49.9m vs. $7.5m in H1 2025
- Q2 2026 EPS $0.17 basic vs. $0.03 a year earlier
- Time charter revenues up to $57.3m in Q2 and $112.0m in H1
- TCE rate improved to $16,581/day in Q2 2026 from $15,492
- Cash dividend of $0.01 per common share for Q2 2026
Negative
- Daily vessel operating expenses rose to $6,396 in Q2 2026 from $5,944
- Average fleet age increased to 12.6 years from 11.7 years
Key Figures
Previous Dividends,earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 28 | Q1 earnings dividend | Positive | -2.0% | Strong Q1 earnings and dividend declaration were followed by a negative 24-hour reaction. |
| Feb 26 | Q4 earnings dividend | Negative | -1.2% | Lower Q4 earnings and dividend declaration were followed by a negative 24-hour reaction. |
| Nov 20 | Q3 earnings dividend | Positive | -4.5% | Improved quarterly earnings and dividend declaration were followed by a negative 24-hour reaction. |
| Jul 30 | Q2 earnings dividend | Positive | -4.4% | Q2 turnaround and dividend declaration were followed by a negative 24-hour reaction. |
| May 29 | Q1 earnings dividend | Positive | +5.1% | Improved Q1 earnings and dividend declaration were followed by a positive 24-hour reaction. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
DSX's tagged dividends-and-earnings announcements produced four negative reactions despite generally positive reported results.
Key Terms
bareboat charter-in technical
time charter equivalent technical
non-gaap measure financial
warrants financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
ATHENS, Greece, July 30, 2026 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX), (the “Company” or “Diana”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today reported net income of
Time charter revenues were
Net income for the six months ended June 30, 2026, amounted to
Dividend Declaration
The Company has declared a cash dividend on its common stock of
Statement on Recent Developments
Semiramis Paliou, Diana’s Chief Executive Officer, commented:
“We believe the market’s attention has been disproportionately focused on the proposed acquisition of Genco, diverting attention from Diana’s own intrinsic value and underlying operating performance.
These results clearly demonstrate that Diana’s business continues to perform strongly, with improving profitability, healthy cash generation and meaningful operating momentum. Under normal circumstances, such performance would be expected to receive far greater recognition from the market.
Instead, Diana continues to trade at a substantial discount to its NAV. We believe this valuation no longer reflects the Company’s underlying fundamentals, earnings power or asset quality. As investors increasingly refocus on Diana’s standalone performance and intrinsic value, we believe this discount should progressively narrow.
Looking further ahead, should the proposed transaction with Genco be completed, the combined company would represent a substantially larger, more diversified and more liquid platform. While no valuation outcome can be assumed, we believe such a company would naturally be evaluated under a different valuation framework than Diana on a standalone basis.
We believe Diana’s current valuation represents a compelling opportunity for investors to benefit from the Company’s improving operating performance and the potential for a gradual re-rating over time.”
| Fleet Employment (As of July 29, 2026) | ||||||||||
| VESSEL BUILT DWT | SISTER SHIPS* | GROSS RATE (USD PER DAY) | COM** | CHARTERERS | DELIVERY DATE TO CHARTERERS*** | REDELIVERY DATE TO OWNERS**** | NOTES | |||
| 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 | 10/Aug/2026 - 21/Sep/2026 | 2 | |
| 2018 60,404 | ||||||||||
| 5 | DSI Pegasus | A | 14,250 | 4.75 | % | Cargill Ocean Transportation (Singapore) Pte. Ltd | 15-Aug-25 | 3-Aug-26 | 2,3 | |
| 2015 60,508 | 18,350 | 5.00 | % | Fednav International Ltd. | 3-Aug-26 | 15/Aug/2027-15/Oct/2027 | 2 | |||
| 6 | DSI Aquarius | B | 14,500 | 5.00 | % | Bunge SA, Geneva | 7-Nov-25 | 1/Nov/2026 - 31/Dec/2026 | 4 | |
| 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 | ||
| 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 | 10/Aug/2026 - 16/Sep/2026 | 2 | ||
| 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 | 12-Jul-26 | 6 | ||
| 2013 77,901 | 15,750 | 5.00 | % | Paralos Shipping Pte. Ltd | 12-Jul-26 | 15/May/2027 - 15/Jul/2027 | ||||
| 13 | CRYSTALIA | C | 16,200 | 5.00 | % | SwissMarine Pte. Ltd., Singapore | 14-Mar-26 | 10/Mar/2027 - 10/May/2027 | ||
| 2014 77,525 | ||||||||||
| 14 | ATALANDI | C | 10,100 | 5.00 | % | Stone Shipping Ltd | 8-Jun-25 | 5-Aug-26 | 7 | |
| 2014 77,529 | 16,500 | 5.00 | % | 5-Aug-26 | 1/Aug/2027-30/Sep/2027 | 8 | ||||
| 6 Kamsarmax Bulk Carriers | ||||||||||
| 15 | MAIA | D | 14,000 | 5.00 | % | Paralos Shipping Pte. Ltd. | 16-Jan-26 | 5/Jul/2027 - 5/Sep/2027 | ||
| 2009 82,193 | ||||||||||
| 16 | MYRSINI | D | 13,500 | 5.00 | % | Paralos Shipping Pte. Ltd. | 3-Jan-26 | 20/Dec/2026 - 20/Feb/2027 | ||
| 2010 82,117 | ||||||||||
| 17 | MEDUSA | D | 13,000 | 4.75 | % | Cargill International SA, Geneva | 16-Mar-25 | 13-Jul-26 | ||
| 2010 82,194 | 16,850 | 4.75 | % | Aquavita International S.A. | 13-Jul-26 | 5/Oct/2027 - 20/Dec/2027 | ||||
| 18 | MYRTO | D | 12,000 | 5.00 | % | Nippon Yusen Kabushiki Kaisha, Tokyo | 23-Dec-24 | 10-Apr-26 | ||
| 2013 82,131 | 16,650 | 5.00 | % | 10-Apr-26 | 20/Sep/2027 - 20/Nov/2027 | |||||
| 19 | ASTARTE | 12,500 | 5.00 | % | Propel Shipping Pte. Ltd. | 2-Aug-25 | 16/Aug/2026 - 16/Oct/2026 | |||
| 2013 81,513 | ||||||||||
| 20 | LEONIDAS P. C. | 14,000 | 5.00 | % | Nippon Yusen Kabushiki Kaisha, Tokyo | 24-Sep-25 | 15/Sep/2026 - 15/Nov/2026 | |||
| 2011 82,165 | ||||||||||
| 4 Post-Panamax Bulk Carriers | ||||||||||
| 21 | AMPHITRITE | E | 16,500 | 5.00 | % | Cobelfret S.A., Luxembourg | 12-Feb-26 | 1/Mar/2027 - 30/Apr/2027 | 9 | |
| 2012 98,697 | ||||||||||
| 22 | POLYMNIA | E | 14,000 | 5.00 | % | Oldendorff Carriers GmbH & Co. KG | 17-Aug-25 | 7-Jun-26 | ||
| 2012 98,704 | 20,000 | 5.00 | % | 7-Jun-26 | 1/Mar/2027 - 30/Apr/2027 | |||||
| 23 | ELECTRA | F | 14,000 | 5.00 | % | Oldendorff Carriers GmbH & Co. KG | 7-Dec-25 | 1/Dec/2026 - 31/Jan/2027 | ||
| 2013 87,150 | ||||||||||
| 24 | PHAIDRA | F | 14,500 | 5.00 | % | Nippon Yusen Kabushiki Kaisha, Tokyo | 27-Feb-26 | 20/Feb/2027 - 20/Apr/2027 | ||
| 2013 87,146 | ||||||||||
| 8 Capesize Bulk Carriers | ||||||||||
| 25 | SEMIRIO | G | 21,650 | 5.00 | % | Solebay Shipping Cape Company Limited, Hong Kong | 15-Mar-26 | 31/Jan/2027 - 15/Apr/2027 | ||
| 2007 174,261 | ||||||||||
| 26 | NEW YORK | G | 17,600 | 5.00 | % | SwissMarine Pte. Ltd., Singapore | 11-Jan-25 | 1-May-26 | 10 | |
| 2010 177,773 | 27,500 | 5.00 | % | Refined Success Limited | 1-May-26 | 1/Feb/2028 - 31/Mar/2028 | ||||
| 27 | SEATTLE | H | 24,500 | 5.00 | % | SwissMarine Pte. Ltd., Singapore | 29-Nov-25 | 1/May/2027 - 30/Jun/2027 | ||
| 2011 179,362 | ||||||||||
| 28 | P. S. PALIOS | H | 25,200 | 5.00 | % | Glencore Freight Pte. Ltd. | 15-Dec-25 | 15/Nov/2026 - 15/Jan/2027 | ||
| 2013 179,134 | ||||||||||
| 29 | G. P. ZAFIRAKIS | I | 26,800 | 5.00 | % | Nippon Yusen Kabushiki Kaisha, Tokyo | 16-Sep-24 | 16/Aug/2026 - 16/Nov/2026 | ||
| 2014 179,492 | ||||||||||
| 30 | SANTA BARBARA | I | 25,500 | 5.00 | % | Dampskibsselskabet Norden A/S | 27-Nov-25 | 1/Mar/2027 - 30/Apr/2027 | 11 | |
| 2015 179,426 | ||||||||||
| 31 | NEW ORLEANS | 26,000 | 5.00 | % | SwissMarine Pte. Ltd., Singapore | 31-Oct-25 | 1/Dec/2026 - 15/Feb/2027 | 11 | ||
| 2015 180,960 | ||||||||||
| 32 | FLORIDA | 25,900 | 5.00 | % | Bunge S.A., Geneva | 29-Mar-22 | 29/Jan/2027 - 29/May/2027 | 5 | ||
| 2022 182,063 | ||||||||||
| 4 Newcastlemax Bulk Carriers | ||||||||||
| 33 | LOS ANGELES | J | 24,000 | 5.00 | % | MOL Ocean Bulk Pte. Ltd., Singapore | 1-Nov-25 | 10/Sep/2026 - 1/Nov/2026 | ||
| 2012 206,104 | ||||||||||
| 34 | PHILADELPHIA | J | 21,500 | 5.00 | % | Refined Success Limited | 29-May-25 | 7-Aug-26 | 2 | |
| 2012 206,040 | 35,500 | 5.00 | % | Classic Maritime Inc. | 7-Aug-26 | 10/Mar/2027-10/May/2027 | ||||
| 35 | SAN FRANCISCO | K | 26,000 | 5.00 | % | SwissMarine Pte. Ltd., Singapore | 1-Mar-25 | 25/Oct/2026 - 25/Dec/2026 | ||
| 2017 208,006 | ||||||||||
| 36 | NEWPORT NEWS | K | 25,000 | 5.00 | % | Bohai Ocean Shipping (Singapore) Holding Pte. Ltd. | 16-Jun-25 | 1/Sep/2026 - 31/Oct/2026 | ||
| 2017 208,021 | ||||||||||
| * Each dry bulk carrier is a “sister ship”, or closely similar, to other dry bulk carriers that have the same letter. | ||||||||||
| ** Total commission percentage paid to third parties. | ||||||||||
| *** In case of newly acquired vessel with time charter attached, this date refers to the expected/actual date of delivery of the vessel to the Company. | ||||||||||
| **** Range of redelivery dates, with the actual date of redelivery being at the Charterers’ option, but subject to the terms, conditions, and exceptions of the particular charterparty. | ||||||||||
| 1 Charterers have agreed to compensate the Owners, for any time in excess of the period commencing on April 20, 2026, to be paid at double the agreed hire rate or the rate of | ||||||||||
| 2 Based on latest information. | ||||||||||
| 3 Charterers have agreed to compensate the Owners, for any time in excess of the period commencing on July 20, 2026, to be paid at the agreed hire rate or the rate of | ||||||||||
| 4 Vessel on scheduled drydocking from April 5, 2026 to May 2, 2026. | ||||||||||
| 5 Bareboat chartered-in for a period of ten years. | ||||||||||
| 6 Charterers have agreed to compensate the Owners, for any time in excess of the period commencing on May 20, 2026, to be paid at the rate of | ||||||||||
| 7 The charter rate was US | ||||||||||
| 8 Estimated date. | ||||||||||
| 9 The charter rate was US | ||||||||||
| 10 The charter rate was US | ||||||||||
| 11 Bareboat chartered-in for a period of eight years. | ||||||||||
| Summary of Selected Financial & Other Data (unaudited) | |||||||||||||
| Three months ended June 30, | Six months ended June 30, | ||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||
| STATEMENT OF INCOME DATA (in thousands of US Dollars) | |||||||||||||
| Time charter revenues | $ | 57,285 | $ | 54,688 | $ | 112,020 | $ | 109,625 | |||||
| Voyage expenses | 3,413 | 3,114 | 6,483 | 6,064 | |||||||||
| Vessel operating expenses | 20,953 | 20,012 | 40,421 | 39,962 | |||||||||
| Net income | 20,759 | 4,542 | 49,908 | 7,539 | |||||||||
| Net income attributable to common stockholders | 19,317 | 3,100 | 47,024 | 4,655 | |||||||||
| FLEET DATA | |||||||||||||
| Average number of vessels | 36.0 | 37.0 | 36.0 | 37.4 | |||||||||
| Number of vessels | 36.0 | 37.0 | 36.0 | 37.0 | |||||||||
| Weighted average age of vessels (by DWT) | 12.6 | 11.7 | 12.6 | 11.7 | |||||||||
| Ownership days * | 3,276 | 3,367 | 6,516 | 6,768 | |||||||||
| Available days * | 3,249 | 3,329 | 6,471 | 6,632 | |||||||||
| Operating days * | 3,237 | 3,312 | 6,456 | 6,602 | |||||||||
| Fleet utilization * | 99.6 | % | 99.5 | % | 99.8 | % | 99.5 | % | |||||
| AVERAGE DAILY RESULTS | |||||||||||||
| Time charter equivalent (TCE) rate (1) | $ | 16,581 | $ | 15,492 | $ | 16,309 | $ | 15,615 | |||||
| Daily vessel operating expenses (2) | $ | 6,396 | $ | 5,944 | $ | 6,203 | $ | 5,905 | |||||
| * | For the definition of ownership days, available days, operating days and fleet utilization, see our annual report on Form 20-F for the year ended December 31, 2025 (“Item 5A-Operating Results.”) filed on March 13, 2026 | ||||||||||||
Non-GAAP Measures
(1) Time charter equivalent rate, or TCE, is defined as our time charter revenues less voyage expenses for a period divided by the number of our available days for the period. Our method of computing TCE rate may not necessarily be comparable to TCE rates of other companies due to differences in methods of calculation. TCE is a non-GAAP measure, and management believes it is useful to investors because it is a standard shipping industry performance measure used primarily to compare daily earnings generated by vessels on time charters with daily earnings generated by vessels on voyage charters, because charter hire rates for vessels on voyage charters are generally not expressed in per day amounts while charter hire rates for vessels on time charters are generally expressed in such amounts. TCE is used by management to assess and compare the vessel profitability.
(2) Daily vessel operating expenses, which include crew wages and related costs, the cost of insurance, expenses relating to repairs and maintenance, the costs of spares and consumable stores, tonnage taxes and other miscellaneous expenses, are calculated by dividing vessel operating expenses by ownership days for the relevant period. Management believes daily vessel operating expenses is useful to investors because it provides a standardized, per-vessel metric that enables comparison of operational efficiency across the fleet and against industry. Management uses this measure to monitor and assess the operational performance of vessels.
Conference Call and Webcast Information
The Company’s management will conduct a conference call and simultaneous Internet webcast to review these results at 9:00 A.M. (Eastern Time) on Thursday, July 30, 2026.
Investors may access the webcast by visiting the Company’s website at www.dianashippinginc.com and clicking on the webcast link. An accompanying investor presentation also will be available via the webcast link and on the Company’s website. The conference call also may be accessed by telephone by dialing 1-877-407-8291 (for U.S.-based callers) or 1-201-689-8345 (for international callers) and asking the operator for the Diana Shipping Inc. conference call.
A replay of the webcast will be available soon after the completion of the call and will be accessible for 30 days on www.dianashippinginc.com. A telephone replay also will be available for 30 days by dialing 1-877-660-6853 (for U.S.-based callers) or 1-201-612-7415 (for international callers) and providing the Replay ID number 13761711.
About the Company
Diana Shipping Inc. is a global provider of shipping transportation services through its ownership and bareboat charter-in of dry bulk vessels. The Company’s vessels are employed primarily on short to medium-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.
Cautionary Statement Regarding Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.
The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,” “should,” “expect,” “pending” and similar expressions identify forward-looking statements.
The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, Company management’s examination of historical operating trends, data contained in the Company’s records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond the Company’s control, the Company cannot assure you that it will achieve or accomplish these expectations, beliefs or projections.
In addition to these important factors, other important factors that, in the Company’s view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for dry bulk shipping capacity, changes in the Company’s operating expenses, including bunker prices, drydocking and insurance costs, the market for the Company’s vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, tariff policies and other trade restrictions, potential liability from pending or future litigation, general domestic and international political conditions, including risks associated with the continuing conflict between Russia and Ukraine and related sanctions, potential disruption of shipping routes due to accidents or political events, including the escalation of the conflict in the Middle East, vessel breakdowns and instances of off-hires and other factors. Please see the Company’s filings with the U.S. Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
(See financial tables attached)
| DIANA SHIPPING INC. | |||||||||||||
| FINANCIAL TABLES | |||||||||||||
| Expressed in thousands of U.S. Dollars, except share and per share data | |||||||||||||
| UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | |||||||||||||
| Three months ended June 30, | Six months ended June 30, | ||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||
| REVENUES: | |||||||||||||
| Time charter revenues | $ | 57,285 | $ | 54,688 | $ | 112,020 | $ | 109,625 | |||||
| OPERATING EXPENSES | |||||||||||||
| Voyage expenses | 3,413 | 3,114 | 6,483 | 6,064 | |||||||||
| Vessel operating expenses | 20,953 | 20,012 | 40,421 | 39,962 | |||||||||
| Depreciation and amortization of deferred charges | 12,165 | 11,596 | 24,160 | 22,839 | |||||||||
| General and administrative expenses | 8,328 | 8,944 | 17,022 | 17,133 | |||||||||
| Management fees to a related party | 277 | 303 | 555 | 636 | |||||||||
| Gain on sale of vessels | - | (4 | ) | - | (1,500 | ) | |||||||
| Other operating loss/(income) | 50 | 299 | (21 | ) | 460 | ||||||||
| Operating income, total | $ | 12,099 | $ | 10,424 | $ | 23,400 | $ | 24,031 | |||||
| OTHER INCOME/(EXPENSE) | |||||||||||||
| Interest expense and finance costs | (9,608 | ) | (10,812 | ) | (19,427 | ) | (21,890 | ) | |||||
| Interest and other income | 2,718 | 1,915 | 6,655 | 3,778 | |||||||||
| Gain/(loss) on derivative instruments, net | 70 | (67 | ) | 201 | (227 | ) | |||||||
| Gain/(loss) on related party investments | 5 | 3,540 | (100 | ) | 2,482 | ||||||||
| Gain/(loss) on equity securities | 14,261 | (403 | ) | 40,683 | (403 | ) | |||||||
| Gain/(Loss) on warrants | 1,147 | 474 | (1,086 | ) | 515 | ||||||||
| Gain/(loss) from equity method investments | 67 | (529 | ) | (418 | ) | (747 | ) | ||||||
| Total other income/(expenses), net | $ | 8,660 | $ | (5,882 | ) | $ | 26,508 | $ | (16,492 | ) | |||
| Net income | $ | 20,759 | $ | 4,542 | $ | 49,908 | $ | 7,539 | |||||
| Dividends on series B preferred shares | (1,442 | ) | (1,442 | ) | (2,884 | ) | (2,884 | ) | |||||
| Net income attributable to common stockholders | 19,317 | 3,100 | 47,024 | 4,655 | |||||||||
| Earnings per common share, basic | $ | 0.17 | $ | 0.03 | $ | 0.42 | $ | 0.04 | |||||
| Earnings per common share, diluted | $ | 0.16 | $ | 0.03 | $ | 0.41 | $ | 0.04 | |||||
| Weighted average number of common shares outstanding, basic | 114,408,350 | 110,664,067 | 113,219,648 | 110,095,604 | |||||||||
| Weighted average number of common shares outstanding, diluted | 116,705,371 | 110,664,067 | 113,584,563 | 110,095,604 | |||||||||
| Three months ended June 30, | Six months ended June 30, | ||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||
| Net Income | $ | 20,759 | $ | 4,542 | $ | 49,908 | $ | 7,539 | |||||
| Currency translation adjustment | (461 | ) | 3,208 | (1,463 | ) | 3,208 | |||||||
| Comprehensive Income | $ | 20,298 | $ | 7,750 | $ | 48,445 | $ | 10,747 | |||||
| CONDENSED CONSOLIDATED BALANCE SHEET DATA | |||||
| (in thousands of U.S. Dollars) | |||||
| June 30, 2026 | December 31, 2025* | ||||
| ASSETS | (unaudited) | ||||
| Cash, cash equivalents and restricted cash | $ | 117,928 | $ | 122,255 | |
| Investments in equity securities | 155,235 | 118,194 | |||
| Other current assets | 21,422 | 22,426 | |||
| Fixed assets | 809,885 | 826,663 | |||
| Investments in related parties and equity method investments | 58,382 | 53,875 | |||
| Other noncurrent assets | 32,549 | 26,779 | |||
| Total assets | $ | 1,195,401 | $ | 1,170,192 | |
| LIABILITIES AND STOCKHOLDERS' EQUITY | |||||
| Long-term debt and finance liabilities, net of deferred financing costs | $ | 606,055 | $ | 636,109 | |
| Other liabilities | 37,894 | 31,670 | |||
| Total stockholders' equity | 551,452 | 502,413 | |||
| Total liabilities and stockholders' equity | $ | 1,195,401 | $ | 1,170,192 | |
| * | The balance sheet data has been derived from the audited consolidated financial statements on that date. | ||||
| OTHER FINANCIAL DATA (unaudited) | ||||||||||||
| Three months ended June 30, | Six months ended June 30, | |||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||
| Net cash provided by operating activities | $ | 17,510 | $ | 8,623 | $ | 37,834 | $ | 25,835 | ||||
| Net cash used in investing activities | (4,176 | ) | (39,877 | ) | (4,077 | ) | (29,333 | ) | ||||
| Net cash used in financing activities | $ | (19,895 | ) | $ | (16,801 | ) | $ | (38,084 | ) | $ | (56,570 | ) |
Corporate Contact:
Margarita Veniou
Chief Corporate Development, Governance &
Communications Officer and Secretary
Telephone: + 30-210-9470-100
Email: mveniou@dianashippinginc.com
Website: www.dianashippinginc.com
X: @Dianaship
Investor Relations/Media Contact:
Nicolas Bornozis / Daniela Guerrero
Capital Link, Inc.
230 Park Avenue, Suite 1540
New York, N.Y. 10169
Tel.: (212) 661-7566
Email: diana@capitallink.com
