Diana Shipping Inc Stock Price, News & Analysis

Diana Shipping Inc. (NYSE: DSX) released its inaugural Environmental, Social and Governance (ESG) report for 2019, demonstrating its commitment to sustainable practices. The report details the company's policies on environmental issues, social responsibility, and corporate governance. Diana Shipping operates a fleet primarily engaged in medium to long-term charters, transporting dry bulk commodities globally. The ESG report is publicly accessible on their website, showcasing the company's transparency and accountability in the shipping sector.

Diana Shipping Inc. (NYSE: DSX) has announced the sale of the 2001-built vessel "Oceanis" for $5.75 million, with delivery by April 16, 2021. Additionally, the company has signed a time charter for the m/v New York at a rate of $14,000 per day, expected to generate approximately $6.57 million in gross revenue until mid-2022. Following these transactions, the fleet will comprise 37 vessels, with a combined capacity of about 5.0 million dwt and an average age of 10.20 years. Diana Shipping specializes in dry bulk vessel ownership and operates globally.

Diana Shipping Inc. (NYSE: DSX) has signed a time charter contract with Koch Shipping for its Capesize vessel, the m/v Baltimore, effective December 20, 2020. The charter rate is set at US$13,000 per day minus a 5% commission, generating approximately US$2.73 million in gross revenue for the minimum period until July 20, 2021, extending possibly to October 5, 2021. Post-sale of two vessels, the fleet will comprise 38 vessels with a carrying capacity of 5.0 million dwt and an average age of 10.20 years.

Diana Shipping Inc. (NYSE: DSX) announced a tender offer to purchase up to 6,000,000 shares, equating to approximately 6.7% of its outstanding stock, at $2.00 per share. The offer will expire on January 14, 2021, at 5:00 P.M. Eastern Time. This move results from the Company’s favorable cash position and current stock price. The tender offer is not conditioned on a minimum number of shares being tendered but is subject to specific terms. Shareholders will receive detailed instructions and conditions related to the tender offer.

Diana Shipping Inc. (NYSE: DSX) announced a new time charter contract for its Capesize vessel, the m/v New Orleans. The charter, effective December 3, 2020, has a gross daily rate of US$15,500 until at least January 25, 2022, potentially extending to March 25, 2022. This contract is expected to generate approximately US$6.37 million in gross revenue. Following the sale of two vessels, the company's fleet will consist of 38 dry bulk vessels with a total carrying capacity of around 5.0 million dwt.

Diana Shipping (NYSE: DSX) announced a new time charter contract for its Panamax vessel, m/v Artemis, with Glencore Agriculture B.V. The charter at a gross rate of $10,250 per day will run from now until March 30, 2022, generating approximately $4.06 million in gross revenue. This follows a prior charter arrangement with Koch Shipping Pte. Ltd. for the same vessel. Post-sales of two vessels, Diana Shipping's fleet will comprise 38 dry bulk vessels with a total capacity of about 5.0 million dwt and an average age of 10.15 years.

Diana Shipping Inc. (NYSE: DSX) announced a time charter contract with CLdN Cobelfret SA for its Post-Panamax dry bulk vessel, m/v Polymnia. The charter, effective from November 22, 2020, has a gross rate of US$12,100 per day with a duration until October 15, 2021, extending to December 25, 2021. This agreement is expected to generate approximately US$3.91 million in gross revenue. Following the sale of two vessels, the company's fleet will comprise 38 vessels with a total capacity of approximately 5 million dwt and an average age of 10.14 years.

Diana Shipping reported a net loss of $13.2 million for Q3 2020, a significant decline from a net income of $1.8 million in Q3 2019. The loss attributed to common stockholders reached $14.6 million, including a $6.8 million impairment loss from vessel sales. Time charter revenues dropped to $42.3 million, down from $53.5 million year-over-year, mainly due to reduced ownership days from vessel sales and declining charter rates. For the nine months ended September 30, 2020, the net loss totaled $126.8 million amidst a significant impairment loss of $102.5 million.

Diana Shipping Inc. (NYSE: DSX) has entered a time charter contract with Cargill International S.A. for its Kamsarmax vessel, m/v Medusa, at a gross rate of $11,000 per day. The charter will run from November 2020 to a minimum of January 10, 2022, generating approximately $4.52 million in gross revenue. Post the sale of two vessels, the company will operate 38 dry bulk vessels, with a total capacity of about 5 million dwt and an average fleet age of 10.09 years.