Welcome to our dedicated page for Diana Shipping news (Ticker: DSX), a resource for investors and traders seeking the latest updates and insights on Diana Shipping stock.
Diana Shipping Inc. operates as a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels. Its news commonly covers time charter contracts and extensions for Panamax, Kamsarmax, Post-Panamax, Capesize, Newcastlemax and Ultramax vessels, including vessel employment terms, charter counterparties and fleet composition.
Company updates also address shareholder meetings, proxy materials, governance actions, equity incentive matters and capital-structure disclosures. Diana Shipping’s operating news is tied to dry bulk transportation markets for commodities such as coal, iron ore, grains, steel products, cement and fertilizers.
Diana Shipping (NYSE: DSX) reported Q3 2024 financial results with net income of $3.7 million, down from $7.4 million in Q3 2023. Time charter revenues decreased to $57.5 million from $62.1 million year-over-year. Earnings per share were $0.02 basic and $0.00 diluted, compared to $0.06 in Q3 2023. The company declared a cash dividend of $0.01 per share, payable December 18, 2024. For the nine months ended September 30, 2024, net income was $3.0 million with time charter revenues of $171.1 million, compared to $40.5 million and $202.1 million respectively in the same period of 2023.
Diana Shipping Inc. (NYSE: DSX) has secured a time charter contract with Stone Shipping for its Ultramax vessel, m/v DSI Pyxis. The charter rate is set at $13,100 per day (minus 5% commission) from November 2024 until minimum February 20, 2026, potentially extending to April 20, 2026. The contract is expected to generate approximately $6.05 million in gross revenue for the minimum period.
The company's fleet comprises 38 dry bulk vessels with a total capacity of 4.2 million dwt and an average age of 11.11 years. Additionally, two methanol dual fuel Kamsarmax vessels are expected for delivery by 2H 2027 and 1H 2028.
Diana Shipping (NYSE: DSX) has scheduled the release of its 2024 third quarter financial results for Monday, November 25, 2024, before U.S. markets open. Management will host a conference call and webcast at 9:00 A.M. Eastern Time on the same day. Investors can access the webcast through the company's website, where an investor presentation will also be available. The conference call can be joined via telephone, with separate numbers for U.S. and international callers. Both the webcast and telephone replay will be available for 30 days after the event.
Diana Shipping Inc. (NYSE: DSX) has successfully completed a US$25 million tap issue under its outstanding senior unsecured bond issue due July 2, 2029. The tap issue was priced at 102.00% of par value, bringing the total outstanding amount under the Bonds to US$175 million. The company, which specializes in dry bulk vessel ownership and bareboat charter-in, plans to use the net proceeds for general corporate purposes in accordance with the Bonds' terms.
Diana Shipping Inc. (NYSE: DSX), a global dry bulk vessel shipping company, has released its Environmental, Social and Governance (ESG) Report for the year ended December 31, 2023. The report details the company's ESG policies and practices, demonstrating its commitment to sustainability in the maritime sector. CEO Semiramis Paliou emphasized the company's dedication to advancing industry ESG standards through innovation and strategic transformation.
Diana Shipping Inc. (NYSE: DSX) has successfully signed a US$80.2 million seven-year secured term loan facility with Danish Ship Finance A/S on October 18, 2024. This amended and restated loan, maturing in April 2031, refinances the Company's existing loan facility of the same balance, originally due in April 2028. The new loan is secured by seven vessels, down from nine in the previous agreement, releasing two mortgaged vessels.
Mr. Ioannis Zafirakis, CFO and CSO, emphasized that this refinancing demonstrates the Company's commitment to enhancing its capital structure and operational flexibility. Diana Shipping Inc.'s fleet currently comprises 38 dry bulk vessels with a combined carrying capacity of approximately 4.2 million dwt and a weighted average age of 11.06 years. The Company also anticipates the delivery of two methanol dual fuel new-building Kamsarmax vessels by 2028.
Diana Shipping Inc. (NYSE: DSX) has announced a new time charter contract for its Panamax dry bulk vessel, m/v Selina, with Raffles Shipping International Pte. The contract features a gross charter rate of US$10,500 per day, minus a 5% commission to third parties, for a period until minimum March 1, 2025, up to maximum April 20, 2025. The charter is set to commence on October 17, 2024.
The m/v Selina, a 75,700 dwt Panamax vessel built in 2010, is expected to generate approximately US$1.39 million in gross revenue for the minimum scheduled period. Diana Shipping's fleet currently consists of 38 dry bulk vessels with a combined carrying capacity of about 4.2 million dwt and an average age of 11.04 years. The company is also awaiting delivery of two methanol dual fuel new-building Kamsarmax vessels by 2028.
Diana Shipping Inc. (NYSE: DSX) has announced the extension of a time charter contract for its Post-Panamax dry bulk vessel, the m/v Phaidra, with Aquavita International S.A. The new charter period is set to begin on October 11, 2024, with a gross charter rate of US$12,000 per day, minus a 4.75% commission paid to third parties. The contract duration is from a minimum of May 1, 2025, to a maximum of July 15, 2025.
The employment of Phaidra is expected to generate approximately US$2.4 million of gross revenue for the minimum scheduled period. Diana Shipping's fleet currently consists of 38 dry bulk vessels with a combined carrying capacity of about 4.2 million dwt and a weighted average age of 11.01 years. The company is also anticipating the delivery of two methanol dual fuel new-building Kamsarmax dry bulk vessels by the second half of 2027 and the first half of 2028.
Diana Shipping Inc. (NYSE: DSX) has announced a new time charter contract for its Ultramax dry bulk vessel, m/v DSI Altair, with Propel Shipping Pte. The contract offers a gross charter rate of US$15,750 per day, minus a 5% commission, for a period until minimum November 1, 2025, up to maximum December 31, 2025. This new charter, commencing on September 26, 2024, is expected to generate approximately US$6.24 million in gross revenue for the minimum scheduled period.
The m/v DSI Altair, a 60,309 dwt vessel built in 2016, is currently chartered to Western Bulk Carrier AS at a lower rate of US$13,800 per day. Diana Shipping's fleet consists of 38 dry bulk vessels with a combined carrying capacity of about 4.2 million dwt and an average age of 10.97 years. The company is also expecting delivery of two methanol dual fuel new-building Kamsarmax vessels by 2028.
Diana Shipping Inc. (NYSE: DSX) has announced a new time charter contract for its Ultramax dry bulk vessel, m/v DSI Pegasus, with Cargill Ocean Transportation. The contract offers a gross charter rate of $15,250 per day, with a 4.75% commission to third parties, for a period until minimum June 1, 2025, up to maximum August 1, 2025. The charter is set to begin on September 4, 2024, and is expected to generate approximately $4.09 million in gross revenue for the minimum scheduled period.
The m/v DSI Pegasus, a 60,508 dwt vessel built in 2015, is currently under charter to Reachy Shipping at $14,000 per day. Upon completion of a previously announced vessel sale, Diana Shipping's fleet will consist of 38 dry bulk vessels with a combined carrying capacity of about 4.4 million dwt and an average age of 11.07 years. The company is also expecting delivery of two methanol dual fuel new-building Kamsarmax vessels by 2028.