Diana Shipping Inc Stock Price, News & Analysis

Diana Shipping Inc. (NYSE: DSX), a global shipping company, has filed its 2022 Annual Report on Form 20-F with the United States Securities and Exchange Commission. The report, detailing the company's audited financial statements, is available for download on the company's website. Shareholders can request a hard copy free of charge. Specializing in the ownership and bareboat charter-in of dry bulk vessels, Diana Shipping primarily engages in short to medium-term charters, transporting various commodities including iron ore, coal, and grain across international shipping routes.

Diana Shipping Inc. (NYSE: DSX) has entered into a time charter contract with Cargill International S.A. for its Kamsarmax vessel, m/v Leonidas P. C. The contract, effective March 17, 2023, is set for a duration of 11 to 13 months, with a gross charter rate of $17,000 per day (less a commission of 4.75%). This agreement is expected to yield approximately $5.61 million in gross revenue during the minimum scheduled period. Diana Shipping's fleet comprises 41 dry bulk vessels, and it anticipates receiving one additional Ultramax vessel in early April 2023, enhancing its carrying capacity of around 4.7 million dwt.

Diana Shipping Inc. (NYSE: DSX) reported a net income of $25.7 million for Q4 2022, down from $41.1 million in Q4 2021. The time charter revenues increased to $75.7 million from $68.8 million year-over-year. For the entire year, the net income rose to $119.1 million compared to $57.4 million in 2021, with earnings per share jumping to $1.42 from $0.64. The Company has declared a cash dividend of $0.15 per share for Q4 2022 and plans to maintain similar quarterly dividends in 2023. Additionally, a special stock dividend is set for April 2023.

Diana Shipping Inc. (NYSE: DSX) announced on February 14, 2023, that it has signed a Memorandum of Agreement to acquire the m/v Nord Potomac, a 2016-built Ultramax dry bulk vessel, for $27.9 million. The delivery of the vessel is expected by early April 2023. This acquisition adds to the company’s existing fleet of 41 dry bulk vessels, which has a combined capacity of approximately 4.7 million dwt and a weighted average age of 9.87 years. The company focuses on shipping transportation services primarily through short- to medium-term time charters, transporting various dry bulk commodities worldwide.

Diana Shipping Inc. (NYSE: DSX) announced a time charter contract with SwissMarine Pte. Ltd. for its Newcastlemax dry bulk vessel, the m/v San Francisco. The gross charter rate is set at US$22,000 per day, with a duration from February 19, 2023, until between January 5 and March 5, 2025. This contract is expected to generate approximately US$14.89 million in gross revenue over the minimum period. Diana Shipping’s fleet comprises 41 dry bulk vessels, with a total capacity of 4.7 million dwt and an average vessel age of 9.85 years.

Diana Shipping Inc. (NYSE: DSX), a global shipping company, will release its financial results for Q4 and the year ending December 31, 2022, before the U.S. markets open on February 22, 2023. A conference call and webcast will follow at 9:00 A.M. ET on the same day to discuss these results. Investors can access the webcast through the company’s website, where an investor presentation will also be available. A replay will be accessible for 30 days post-call. Diana Shipping specializes in the ownership and charter-in of dry bulk vessels, primarily transporting essential commodities along global shipping routes.

On February 1, 2023, Diana Shipping Inc. (NYSE: DSX) announced it has sold the m/v Melia, a 2005-built Panamax dry bulk vessel, to OceanPal Inc. for US$14 million. An initial payment of US$4 million was made at the agreement's signing, with the remainder to be paid in shares of OceanPal’s Series D Preferred Stock upon delivery, expected by the end of February. The sale follows an exercised right of first refusal based on a November 2021 agreement. Post-sale, Diana Shipping's fleet will consist of 41 vessels with a total capacity of approximately 4.9 million dwt and a weighted average age of 10.27 years.

Diana Shipping Inc. (NYSE: DSX) has taken delivery of the m/v DSI Aquarius, a 2016-built Ultramax dry bulk vessel, as part of an agreement to purchase nine vessels made in August 2022. The vessel will be chartered to Engelhart CTP Freight (Switzerland) SA at a gross rate of US$14,200 per day, expected to generate approximately US$4.81 million in gross revenue for the minimum charter period lasting until March 2024. Following the delivery, Diana Shipping's fleet will comprise 42 vessels with a carrying capacity of about 4.9 million dwt and an average age of 10.25 years.

Diana Shipping Inc. (NYSE: DSX) announced two significant time charter agreements for its dry bulk vessels. The m/v Atalandi's contract with Aquavita International S.A. will generate a gross charter rate of US$13,250 per day until May 5, 2024, while the m/v Leto will have a contract with Cargill International S.A. at US$14,500 per day until April 30, 2024. These agreements are expected to yield approximately US$10.68 million in gross revenue for the minimum duration. Following the sale of the m/v Aliki, Diana Shipping's fleet will consist of 42 vessels with a combined carrying capacity of 4.9 million dwt.