Diana Shipping Inc Stock Price, News & Analysis

Diana Shipping Inc. (NYSE: DSX) announced its 2022 Annual Meeting of Shareholders will be held virtually on May 18, 2022. Shareholders were informed that they will not be able to attend physically, with a record date set for March 28, 2022. The Company encourages advance voting to streamline the meeting process. Details on how to access the meeting and vote will be included in a separate proxy statement sent to shareholders. Diana Shipping specializes in the ownership and chartering of dry bulk vessels, transporting various commodities globally.

Diana Shipping Inc. (NYSE: DSX) announced a sale and leaseback agreement for its new Capesize dry bulk vessel, m/v Florida, anticipated to close by March 29, 2022. The transaction will yield gross proceeds of US$50.0 million. The company will charter-in the vessel for ten years, with purchase options starting after three years. Excluding this vessel, Diana's fleet comprises 34 vessels with a total capacity of approximately 4.4 million dwt and a weighted average age of 10.57 years.

Diana Shipping Inc. (NYSE: DSX) has secured a time charter contract for its Capesize dry bulk vessel, the m/v New Orleans, with Engelhart CTP Freight (Switzerland) SA. The charter, starting March 25, 2022, will last until November 20, 2023, with potential extension to January 31, 2024, generating an estimated gross revenue of approximately US$19.04 million. Currently, the m/v New Orleans is chartered at a rate of US$15,500 per day. Diana Shipping's fleet comprises 34 vessels, with a combined capacity of around 4.4 million dwt and an average age of 10.57 years.

Diana Shipping Inc. (NYSE: DSX) announced a time charter agreement with Cargill International S.A. for its Panamax vessel, m/v Artemis. The charter, effective immediately, secures a gross rate of US$21,250 per day (after a 4.75% commission) until at least June 20, 2023, potentially extending to August 20, 2023. This agreement is expected to generate approximately US$9.54 million in gross revenue during the minimum period. Currently, Diana Shipping operates 34 vessels with a total carrying capacity of about 4.4 million dwt, with an average fleet age of 10.57 years.

Diana Shipping Inc. (NYSE: DSX) announced a time charter contract with Bunge S.A. for its Capesize dry bulk vessel, the Florida. The charter, set to begin on March 29, 2022, has a gross rate of $25,900 per day, projected to generate approximately $45.07 million in gross revenue over the minimum term of 58 months. The Florida is a new 2022 building, enhancing the company’s fleet, which consists of 34 vessels with a combined carrying capacity of around 4.4 million dwt. This contract strengthens Diana Shipping's revenue stream and operational capacity in the dry bulk market.

Diana Shipping Inc. (NYSE: DSX) announced a new time charter contract with Cargill International S.A. for its Capesize vessel, the m/v Santa Barbara. The charter will commence on March 15, 2022, at a gross rate of US$29,500 per day, significantly up from the previous rate of US$17,250 per day. This agreement is expected to generate around US$12.24 million in gross revenue over the minimum contract period of approximately 415 days. The company currently operates a fleet of 34 vessels and plans to take delivery of one newbuilding Capesize by the end of Q1 2022.

Diana Shipping Inc. (NYSE: DSX) announced a new time charter contract with Cargill International S.A. for its Kamsarmax dry bulk vessel, the m/v Medusa. The charter rate is set at US$26,000 per day, effective from March 5, 2022, extending to a minimum of May 15, 2023 and a maximum of July 15, 2023. This contract is expected to generate approximately US$11.18 million in gross revenue. Currently, the Medusa is chartered at US$11,000 per day, indicating a significant revenue increase.

Diana Shipping Inc. (NYSE: DSX) reported a net income of $41.1 million for Q4 2021, compared to a net loss of $7.4 million in Q4 2020. Time charter revenues reached $68.8 million, a significant increase from $42.7 million year-over-year, primarily due to improved charter rates. For the full year, net income totaled $57.4 million, up from a loss of $134.2 million in 2020. The company declared a cash dividend of $0.20 per share, payable on or about March 21, 2022. The fleet utilization rate remained high at 99.6% in Q4 2021.

Diana Shipping Inc. (NYSE: DSX) announced a time charter contract with Koch Shipping Pte. Ltd. for its Newcastlemax vessel, m/v San Francisco. The gross charter rate is set at US$30,500 per day, commencing retroactively from February 18, 2022, and lasting until at least March 1, 2023, with a maximum end date of May 15, 2023. The charter is expected to generate approximately US$11.32 million in gross revenue over a minimum of 371 days. Currently, the company operates a fleet of 34 dry bulk vessels.