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. (NYSE: DSX) is a global shipping company in the deep sea freight transportation industry, specializing in the ownership and bareboat charter-in of dry bulk vessels. Its vessels are employed primarily on short to medium-term time charters and transport dry bulk cargoes such as iron ore, coal, grain and other materials along worldwide shipping routes. This news page focuses on company announcements and regulatory disclosures that relate to these activities.
Visitors to this DSX news section can review press releases on new and renewed time charter contracts for specific vessels across Diana Shipping’s Newcastlemax, Capesize, Post-Panamax, Kamsarmax, Panamax and Ultramax fleet. The company regularly reports charter rates, charter durations, counterparties and anticipated gross revenues for these contracts, providing insight into fleet employment and utilization.
The news feed also includes fleet and asset updates, such as Memoranda of Agreement for vessel sales and changes to previously announced sale transactions. In addition, Diana Shipping publishes financial results for defined reporting periods, including time charter revenues, net income, fleet data and non-GAAP metrics such as time charter equivalent (TCE) rates and daily vessel operating expenses.
Another category of DSX news involves corporate and strategic developments, for example proposals to acquire remaining shares of another dry bulk shipping company and related communications, as well as announcements about officer resignations and appointments approved by the Board of Directors. Investors and analysts who follow the dry bulk shipping market can use this page to monitor Diana Shipping’s chartering activity, fleet composition, financial performance communications and corporate actions over time.
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.
Diana Shipping Inc. (NYSE: DSX), a global shipping company, announced new time charter contracts for its dry bulk vessels. The m/v Electra, a Post-Panamax ship, will earn a gross rate of US$17,500 per day from Refined Success Limited starting July 2, 2022, through May 30, 2023. The m/v New York, a Capesize vessel, will secure US$23,000 per day from C Transport Maritime Ltd., with employment running until August 25, 2023. These contracts are projected to generate approximately US$12.48 million in gross revenue during their minimum duration.
Diana Shipping Inc. (NYSE: DSX) has announced a time charter contract for its Panamax dry bulk vessel, the m/v Selina, with Speed Logistics Marine Limited. The contract runs from June 17, 2022, to June 20, 2023, at a rate of $22,000 per day, generating approximately $6.56 million in gross revenue for the minimum period. Following the sale of the m/v Baltimore, Diana Shipping's fleet will consist of 34 vessels with a total carrying capacity of around 4.5 million dwt and a weighted average age of 10.38 years, emphasizing their operational capabilities in the dry bulk shipping market.
Diana Shipping Inc. (NYSE: DSX) has signed a Memorandum of Agreement to sell the m/v Baltimore to OceanPal Inc. for $22 million. The sale includes a payment structure where 20% is paid upfront and 80% upon delivery in preferred shares. The m/v Baltimore, a 2005-built Capesize vessel, has a carrying capacity of 177,243 dwt and will be delivered in Q3 2022 after scheduled drydocking. The sale was approved by a committee of independent directors following a right of first refusal agreement. Post-sale, Diana Shipping will have 34 vessels with a total capacity of approximately 4.5 million dwt.
Diana Shipping Inc. (NYSE: DSX) reported a strong financial performance for Q1 2022, achieving a net income of $26.0 million, compared to a net loss of $1.3 million in Q1 2021. Net income attributed to common shareholders was $24.6 million, with earnings per share at $0.32 basic and $0.31 diluted, reversing the prior year's loss per share of $0.03. Time charter revenues surged to $65.9 million from $41.1 million, propelled by increased average charter rates, despite a decrease in ownership days. The company declared a cash dividend of $0.25 per share, payable on June 17, 2022.
Diana Shipping Inc. (NYSE: DSX) has signed a time charter contract with Classic Maritime Inc. for its Capesize vessel, the m/v P. S. Palios. The contract is set at a gross rate of $31,000 per day, expected to commence on June 11, 2022, and will last until April 15 to June 30, 2024. This deal is projected to generate approximately $20.58 million in gross revenue. Currently, the company's fleet consists of 35 dry bulk vessels, with a total capacity of about 4.5 million dwt and an average age of 10.32 years.
Diana Shipping Inc. (NYSE:DSX) held its Annual Meeting of Shareholders on May 18, 2022, in a virtual format. Key proposals were approved, including the election of Konstantinos Psaltis, Kyriacos Riris, and Simon Morecroft as Class II Directors until the 2025 Annual Meeting. Ernst & Young (Hellas) Certified Auditors Accountants S.A. was appointed as the independent auditors for the fiscal year ending December 31, 2022. The Company specializes in dry bulk vessel transportation, focusing on short to medium-term charters.