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) announced an extension for the distribution date of its spin-off, OceanPal Inc. The new date, to be confirmed soon, will occur post-registration effectiveness under the Securities Exchange Act of 1934. The spin-off is anticipated to be completed in approximately two weeks on the previously announced terms. The record date for shareholders remains unchanged. Additional details are available in the Registration Statement filed with the SEC, but the transaction's consummation is still subject to SEC approval.
Diana Shipping Inc. (NYSE: DSX) has announced a change in the distribution date for the spin-off of its subsidiary OceanPal Inc., moving it from November 9, 2021, to November 17, 2021, due to procedural delays. The record date remains unchanged. The cash dividend payment of $0.10 per common share will still occur on November 10, 2021, for shareholders of record as of November 3, 2021. The spin-off transaction's terms remain consistent with previous announcements, pending regulatory approval.
Diana Shipping (NYSE: DSX) announced a time charter contract with Cargill International S.A. for its Kamsarmax vessel, m/v Myrsini. The charter, commencing November 14, 2021, will last until at least December 1, 2022, generating approximately US$8.29 million in gross revenue. The Myrsini, built in 2010, is part of Diana Shipping's fleet of 36 dry bulk vessels with a combined carrying capacity of about 4.6 million dwt.
Diana Shipping Inc. (NYSE: DSX) announced the approval for the listing of OceanPal Inc. shares on Nasdaq under the ticker 'OP'. This follows the spin-off of 100% of OceanPal's shares to existing shareholders, effective November 3, 2021. Shareholders will receive one OceanPal share for every ten shares of Diana Shipping held. Additionally, a cash dividend of $0.10 per share will be distributed on November 10, 2021, with the ex-dividend date set for November 2, 2021.
Diana Shipping Inc. (NYSE: DSX) announced a spin-off of three older dry bulk vessels via its subsidiary OceanPal Inc., which will seek listing on Nasdaq. Shareholders of record by October 29, 2021, will receive common shares of OceanPal. The Company will contribute $1 million in initial working capital and will also receive preferred shares in OceanPal, allowing for preferred dividends. Additionally, a cash dividend of $0.10 per common share will be paid to shareholders on or around November 9, 2021, reflecting the Company’s ongoing financial strength.
Diana Shipping Inc. (NYSE: DSX) will release its third-quarter financial results on November 17, 2021, before U.S. markets open. A conference call and webcast to discuss these results will occur at 9:00 A.M. (ET) on the same day. Investors can access the webcast through the company's website, where an investor presentation will also be available. Replay options for the webcast and conference call will be provided for 30 days post-event. The company specializes in owning dry bulk vessels, primarily utilized for transporting commodities such as iron ore and coal globally.
Diana Shipping Inc. (NYSE: DSX) released its Environmental, Social and Governance (ESG) Report for 2020, detailing the company's commitments in these areas. The report is designed to enhance transparency regarding the company's policies on environmental sustainability and social responsibility. Diana Shipping operates dry bulk vessels, primarily under medium to long-term charters, transporting commodities like iron ore and grain. The ESG Report is accessible on the company's website for stakeholders interested in the company's governance practices.
Diana Shipping Inc. (NYSE: DSX) announced a time charter contract with Olam International Limited for its Capesize vessel, the m/v Baltimore, at a gross rate of US$56,000 per day, starting retroactively from September 28, 2021. This contract is anticipated to generate approximately US$5.04 million in gross revenue over the 90-day duration. Currently, Diana Shipping operates a fleet of 36 dry bulk vessels with a combined carrying capacity of about 4.6 million dwt. The company also expects the delivery of a new Kamsarmax vessel by February 2022.
Diana Shipping Inc. (NYSE: DSX) announced two time charter contracts for its Panamax dry bulk vessels, Atalandi and Leto, with Aquavita International S.A. The contracts will provide gross charter rates of US$24,500 and US$25,500 per day, respectively, for periods extending until February to April 2023. The charters are set to commence on October 2 and 3, 2021. The anticipated revenue from these charters is approximately US$24.27 million. Diana Shipping currently operates a fleet of 36 vessels with a combined capacity of 4.6 million dwt.
Diana Shipping Inc. (NYSE: DSX) has announced a new time charter for its Panamax dry bulk vessel, the m/v Maera, with ASL Bulk Shipping HK Limited. The charter, commencing September 18, 2021, is at a gross rate of $26,000 per day, generating approximately $9.70 million in revenue for a minimum period until October 1, 2022. This contract replaces a previous charter with Ausca Shipping Limited at a significantly lower rate of $8,600 per day. The company’s fleet currently comprises 36 vessels, with a combined carrying capacity of around 4.6 million dwt.
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