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. operates as a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels. Its news commonly covers time charter contracts and extensions for Panamax, Kamsarmax, Post-Panamax, Capesize, Newcastlemax and Ultramax vessels, including vessel employment terms, charter counterparties and fleet composition.
Company updates also address shareholder meetings, proxy materials, governance actions, equity incentive matters and capital-structure disclosures. Diana Shipping’s operating news is tied to dry bulk transportation markets for commodities such as coal, iron ore, grains, steel products, cement and fertilizers.
Diana Shipping Inc. (NYSE: DSX) has announced a tender offer to buy back up to 3,529,411 shares, approximately 4.0% of its outstanding stock, at a price of $4.25 per share, using cash reserves. The offer is set to expire on December 21, 2021, unless extended. The Board believes this repurchase is beneficial given the company’s cash position. Notably, the tender offer is contingent on the completion of the spin-off of OceanPal Inc. Shareholders participating will receive OceanPal shares.
Diana Shipping Inc. (NYSE: DSX) has entered into time charter contracts for three dry bulk vessels, generating approximately US$21.13 million in gross revenue. The contracts include:
- m/v Alcmene: US$17,100 per day, chartering until March 2023.
- m/v G. P. Zafirakis: US$22,750 per day, chartering until December 2022.
- m/v Ismene: US$18,500 per day, chartering until February 2023.
Currently, the fleet includes 36 vessels with a combined carrying capacity of 4.6 million dwt.
Diana Shipping Inc. (NYSE: DSX) reported a net income of $14.7 million for Q3 2021, a significant recovery from a net loss of $13.2 million in Q3 2020. Net income attributed to common stockholders rose to $13.3 million compared to a loss of $14.6 million last year. Time charter revenues increased to $57.3 million from $42.3 million in the same quarter of 2020, driven by higher charter rates, though partially offset by reduced ownership days due to vessel sales. For the nine months ending September 30, 2021, net income was $16.3 million, up from a loss of $126.8 million in 2020.
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.