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 secured a time charter contract for its Post-Panamax vessel, m/v Phaidra, with Uniper Global Commodities SE. The charter, effective from May 29, 2020, guarantees a gross rate of $9,400 per day for a minimum of 11 months, projected to yield approximately $3.1 million in gross revenue. The Company operates a fleet of 41 dry bulk vessels with a total capacity of about 5.1 million dwt, averaging 9.71 years in age.
Diana Shipping Inc. (NYSE: DSX) announced a time charter contract with Glencore Agriculture B.V. for its Ice Class Panamax vessel, the m/v Crystalia. The charter, effective from May 22, 2020, has a gross rate of $8,750 per day and is set to last until September 30, 2021. The contract is expected to generate approximately $3.49 million in gross revenue during the minimum charter period. Diana Shipping's fleet, comprising 41 vessels, has a combined capacity of about 5.1 million dwt.
Diana Shipping Inc. (NYSE: DSX) announced a time charter contract with Cargill International S.A. for its Panamax dry bulk vessel, the m/v Leto. The gross charter rate is set at US$9,000 per day, minus a 4.75% commission, effective from May 21, 2020, and lasting until between July 15 and September 30, 2021. This contract is expected to generate approximately US$3.73 million in gross revenue for the minimum period. Currently, Diana Shipping operates a fleet of 41 vessels, totaling around 5.1 million dwt capacity.
Diana Shipping Inc. (DSX) announced a refinancing agreement on May 7, 2020, securing a term loan facility of US$55.848 million with Nordea Bank. This loan enables the company to extend repayment by two years to March 2022, with potential further extensions until March 2024. The company operates a fleet of 41 dry bulk vessels with a carrying capacity of approximately 5.1 million dwt and a weighted average age of 9.66 years. The vessels engage in medium to long-term charters, transporting various dry bulk commodities worldwide.
Diana Shipping Inc. (NYSE: DSX) reported a net loss of $102.8 million for Q1 2020, compared to a net income of $3.0 million in Q1 2019. The loss per share was $1.21, a significant decline from earnings per share of $0.02 last year. Time charter revenues fell to $43.8 million, down from $60.3 million in the previous year, attributed to decreased charter rates and the sale of vessels. An impairment loss of $93.1 million was also recognized this quarter, highlighting ongoing challenges in the dry bulk shipping market.
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