Diana Shipping Inc Stock Price, News & Analysis

Diana Shipping Inc. (NYSE: DSX) has entered a time charter contract for its Panamax vessel, m/v Selina, with ASL Bulk Shipping HK Limited. The contract is set at a gross rate of $26,500 per day, expected to commence on September 1, 2021, and run until at least June 15, 2022. This agreement is projected to yield approximately $7.53 million in gross revenue for the minimum period. Currently, the m/v Selina is on a charter with ST Shipping at a rate of $11,000 per day. Diana Shipping's fleet comprises 36 vessels, with a total carrying capacity of approximately 4.6 million dwt.

Diana Shipping Inc. (NYSE: DSX) announced the results of its tender offer that ended on August 16, 2021. The company aimed to purchase up to 3,333,333 shares at $4.50 each, totaling $15 million. Due to oversubscription, only 3,333,333 shares were purchased from the 7,189,985 shares tendered, with the remaining shares prorated. This strategic move may enhance shareholder value by reducing outstanding shares.

Diana Shipping Inc. (NYSE: DSX) announced the preliminary results of its tender offer to buy back up to 3,333,333 shares at $4.50 each. The offer, which expired on August 16, 2021, saw a total of 6,304,388 shares tendered, leading to an oversubscribed situation. Consequently, purchases from shareholders will be prorated, with a total share buyback amounting to approximately $15 million. Final results will be confirmed soon, including the proration factor. Shareholders are advised to read the tender offer materials carefully.

Diana Shipping Inc. (NYSE: DSX) reported a net income of $2.8 million for Q2 2021, recovering from a net loss of $10.8 million in Q2 2020. Time charter revenues increased to $47.0 million from $41.0 million year-over-year, attributed to higher average rates despite reduced ownership days due to vessel sales. For the first half of 2021, net income reached $1.5 million, compared to a net loss of $113.6 million in the prior year. Fleet utilization stood at 99.6%.

Diana Shipping Inc. (NYSE: DSX) announced a supplemental agreement with Nordea Bank Abp on July 29, 2021. The agreement includes a two-year extension on the repayment of a secured loan facility, now due in March 2024, and an increase of the loan facility by $460,000. Currently, Diana Shipping operates a fleet of 36 dry bulk vessels with a carrying capacity of approximately 4.6 million dwt and a weighted average age of 10.37 years. The company expects delivery of an additional Kamsarmax vessel by February 2022.

Diana Shipping Inc. (NYSE: DSX) announced the acquisition of the m/v Magnolia, a Kamsarmax dry bulk vessel built in 2011, for US$22.0 million. The delivery of the vessel is expected by the end of February 2022. Post-acquisition, the fleet will comprise 36 dry bulk vessels, featuring a combined carrying capacity of approximately 4.7 million dwt with an average age of 10.41 years. This acquisition enhances Diana Shipping's operational capacity in dry bulk transportation.

Diana Shipping Inc. (NYSE: DSX) announced a tender offer to repurchase up to 3,333,333 shares, approximately 3.6% of its outstanding stock, at $4.50 per share. The tender offer will expire on August 16, 2021. The decision, made by the Board of Directors, reflects the company's strong cash position and current stock price. The tender offer is not contingent on a minimum number of shares being submitted but is subject to other terms. Shareholders will receive detailed materials regarding the offer, which should be carefully reviewed before making decisions.

Diana Shipping Inc. (NYSE: DSX), a global shipping company, will release its financial results for Q2 2021 on August 3, 2021, before U.S. market opening. A conference call will follow at 9:00 A.M. Eastern Time, accessible via the company's website and by phone. The company primarily operates dry bulk vessels on medium to long-term charters, transporting commodities like iron ore and coal across global shipping routes. Investors can also access a replay of the call and presentation for 30 days post-event.

Diana Shipping Inc. (NYSE: DSX) announced a time charter contract with Viterra Chartering B.V. for its Panamax dry bulk vessel, m/v Melia, at a gross rate of US$25,750 per day, effective retroactively from June 11, 2021. This contract is expected to generate approximately US$7.65 million in gross revenue for the minimum period until April 7, 2022. After the sale of another vessel, the company's fleet will consist of 36 dry bulk vessels, with a combined capacity of around 4.7 million dwt and an average age of 10.35 years.