Diana Shipping Inc Stock Price, News & Analysis

Diana Shipping Inc. (NYSE: DSX) announced the delivery of the m/v DSI Pyxis, a 2018-built Ultramax dry bulk vessel, expanding its fleet to 35 vessels. The acquisition follows an agreement to purchase nine Ultramax vessels, and the new vessel will be chartered to Cargill Ocean Transportation for a minimum of 10 months at a gross rate of $17,100 per day. This charter is expected to generate approximately $5.13 million in gross revenue. The fleet's total carrying capacity stands at around 4.4 million dwt with a weighted average age of 10.34 years.

Diana Shipping Inc. (NYSE: DSX) has secured a senior secured term loan facility of up to US$200 million from Nordea Bank, announced on October 3, 2022. This funding will facilitate the acquisition of nine ultramax dry bulk vessels, expected to be delivered in Q4 2022. Following this acquisition, the company's fleet will expand to 43 vessels, with a combined capacity of approximately 4.4 million dwt and an average age of 10.4 years.

Diana Shipping Inc. (NYSE: DSX) announced the sale and leaseback of two Capesize vessels, m/v New Orleans and m/v Santa Barbara, generating gross proceeds of US$66.4 million (US$33.2 million each). The company will bareboat charter-in these vessels for eight years, with purchase options available after three years. With the completion of this transaction, alongside the sale of m/v Baltimore and acquisition of nine new vessels, Diana Shipping's fleet will comprise 43 dry bulk vessels, totaling approximately 4.5 million dwt and a weighted average age of 10.62 years.

Diana Shipping Inc. (NYSE: DSX) entered into two sale and leaseback agreements for the Capesize dry bulk vessels m/v New Orleans and m/v Santa Barbara, secured with unaffiliated Japanese parties. These transactions, expected to close by Q3 2022, will generate gross proceeds of US$66.4 million (US$33.2 million each). The Company will charter-in the vessels for eight years, with purchase options starting in year three. Following the completion of these agreements, Diana Shipping will operate a fleet of 43 vessels, totaling approximately 4.5 million dwt with an average age of 10.55 years.

Diana Shipping Inc. (NYSE: DSX) has announced the acquisition of nine ultramax dry bulk vessels from Sea Trade Holdings for $330 million. The transaction includes $220 million in cash and $110 million in newly issued common shares priced at $5.95 per share. The vessels, built between 2015 and 2018, will enhance Diana's fleet, increasing its carrying capacity to approximately 4.9 million dwt. Deliveries are expected in Q4 2022, with funding sourced from cash on hand and a new credit facility in negotiation. Legal and financial advisors for both parties are disclosed in the announcement.

Diana Shipping Inc. (NYSE: DSX) has announced a time charter contract for its Kamsarmax vessel, the m/v Myrto, with Tata NYK Shipping Pte. Ltd. The charter, starting August 3, 2022, will operate at a gross rate of US$18,000 per day, generating approximately US$6.16 million over the minimum period through July 15, 2023. The company, following the sale of the m/v Baltimore, will own a fleet of 34 dry bulk vessels with a carrying capacity of around 4.5 million dwt. Diana Shipping specializes in dry bulk transportation, targeting short to medium-term charters.

Diana Shipping Inc. (NYSE: DSX) reported a significant increase in net income for Q2 2022, totaling $35.6 million, up from $2.8 million in Q2 2021. Net income attributed to common stockholders rose to $34.2 million from $1.4 million. Earnings per share reached $0.44 basic and $0.42 diluted, compared to just $0.02 in the same period the previous year. Time charter revenues also surged to $74.5 million, driven by increased charter rates, although partially offset by a reduced fleet size and higher off-hire days. The company declared a dividend of $0.275 per share.

Diana Shipping Inc. (NYSE: DSX) announced a new time charter contract for its Capesize vessel, the m/v Boston, with Aquavita International S.A. The charter commenced on July 15, 2022, with a gross rate of US$20,500 per day, expected to generate approximately US$5.25 million in gross revenue until at least April 1, 2023. This contract replaces a prior charter at US$13,000 per day. Following the sale of the m/v Baltimore, the company's fleet will consist of 34 vessels with a combined carrying capacity of 4.5 million dwt.

Diana Shipping Inc. (NYSE: DSX) will announce its financial results for Q2 2022 before U.S. markets open on July 28, 2022. The management team will hold a conference call at 9:00 A.M. ET on the same day to discuss the results. Investors can access the live webcast on the company's website, which will also host an investor presentation. A replay will be available for 30 days post-call via the website and by telephone for U.S. and international callers.