Diana Shipping Inc Stock Price, News & Analysis

Diana Shipping Inc. (NYSE: DSX) has announced a new time charter contract for its Ultramax dry bulk vessel, m/v DSI Altair, with Propel Shipping Pte. The contract offers a gross charter rate of US$15,750 per day, minus a 5% commission, for a period until minimum November 1, 2025, up to maximum December 31, 2025. This new charter, commencing on September 26, 2024, is expected to generate approximately US$6.24 million in gross revenue for the minimum scheduled period.

The m/v DSI Altair, a 60,309 dwt vessel built in 2016, is currently chartered to Western Bulk Carrier AS at a lower rate of US$13,800 per day. Diana Shipping's fleet consists of 38 dry bulk vessels with a combined carrying capacity of about 4.2 million dwt and an average age of 10.97 years. The company is also expecting delivery of two methanol dual fuel new-building Kamsarmax vessels by 2028.

Diana Shipping Inc. (NYSE: DSX) has announced a new time charter contract for its Ultramax dry bulk vessel, m/v DSI Pegasus, with Cargill Ocean Transportation. The contract offers a gross charter rate of $15,250 per day, with a 4.75% commission to third parties, for a period until minimum June 1, 2025, up to maximum August 1, 2025. The charter is set to begin on September 4, 2024, and is expected to generate approximately $4.09 million in gross revenue for the minimum scheduled period.

The m/v DSI Pegasus, a 60,508 dwt vessel built in 2015, is currently under charter to Reachy Shipping at $14,000 per day. Upon completion of a previously announced vessel sale, Diana Shipping's fleet will consist of 38 dry bulk vessels with a combined carrying capacity of about 4.4 million dwt and an average age of 11.07 years. The company is also expecting delivery of two methanol dual fuel new-building Kamsarmax vessels by 2028.

Diana Shipping Inc. (NYSE: DSX) has announced a new time charter contract for its Capesize dry bulk vessel, m/v G. P. Zafirakis, with Nippon Yusen Kabushiki Kaisha, Tokyo. The contract offers a gross charter rate of $26,800 per day, minus a 5% commission, for a period of 23-26 months starting September 9, 2024. This new charter is expected to generate approximately $18.49 million in gross revenue for the minimum scheduled period.

The m/v G. P. Zafirakis, a 179,492 dwt vessel built in 2014, was previously chartered at a lower rate of $17,000 per day. Upon completion of a previously announced vessel sale, Diana Shipping's fleet will consist of 38 dry bulk vessels with a combined carrying capacity of about 4.4 million dwt and an average age of 11.06 years. The company also anticipates the delivery of two methanol dual fuel new-building Kamsarmax vessels by 2028.

Diana Shipping Inc. (NYSE: DSX) has announced a new time charter contract for its Kamsarmax dry bulk vessel, m/v Astarte. The contract, with Paralos Shipping Pte., , offers a gross charter rate of $14,000 per day, minus a 5% commission. The charter period is from August 18, 2024, until at least July 15, 2025, with a potential extension to September 15, 2025. This agreement is expected to generate approximately $4.58 million in gross revenue for the minimum scheduled period.

Following the sale of m/v Houston, Diana Shipping's fleet will comprise 38 dry bulk vessels, with a combined carrying capacity of about 4.4 million dwt and an average age of 11.03 years. The company is also anticipating the delivery of two methanol dual fuel new-building Kamsarmax vessels by 2028.

Diana Shipping Inc. (NYSE: DSX) reported a net loss of $2.8 million for Q2 2024, compared to a net income of $10.4 million in Q2 2023. Time charter revenues decreased to $56.0 million from $67.4 million year-over-year. The company declared a cash dividend of $0.075 per common share for Q2 2024, payable on August 30, 2024. For the six months ended June 30, 2024, Diana Shipping reported a net loss of $0.7 million, compared to a net income of $33.1 million in the same period of 2023. The decrease in financial performance was primarily due to lower average charter rates and fewer ownership days.

Diana Shipping Inc. (NYSE: DSX) has successfully signed and drawn down a US$167.3 million six-year secured term loan facility with Nordea Bank Abp, filial i Norge on July 25, 2024. This new loan, maturing in July 2030, is secured by ten vessels and refinances two existing loan facilities with Nordea: one for US$149.3 million and another for US$18.0 million. As a result, two of the Company's mortgaged vessels have been released.

This refinancing strategy aims to optimize Diana Shipping's capital structure and enhance operational flexibility. Upon completion of the previously announced sale of m/v Houston, the Company's fleet will consist of 38 dry bulk vessels with a combined carrying capacity of approximately 4.4 million dwt and a weighted average age of 10.98 years. Additionally, Diana Shipping expects to take delivery of two methanol dual fuel new-building Kamsarmax dry bulk vessels by 2027 and 2028.

Diana Shipping Inc. (NYSE: DSX) has announced a new time charter contract for its Ultramax dry bulk vessel, m/v DSI Polaris, with Stone Shipping The contract offers a gross charter rate of US$15,400 per day, minus a 5% commission, for a period until minimum June 1, 2025, up to maximum August 15, 2025. This new charter, which began retroactively on July 20, 2024, is expected to generate approximately US$4.76 million in gross revenue for the minimum scheduled period.

The company's fleet will consist of 38 dry bulk vessels after the sale of m/v Houston, with a combined carrying capacity of about 4.4 million dwt and an average age of 10.97 years. Diana Shipping Inc. is also anticipating the delivery of two methanol dual fuel new-building Kamsarmax vessels by 2028.

Diana Shipping announced a time charter contract with Cargill International for its Ice Class Panamax vessel, m/v Atalandi. The contract, starting on July 19, 2024, offers a gross charter rate of $14,600 per day, after a 4.75% commission, until as early as June 1, 2025, and no later than July 31, 2025. This deal is expected to generate around $4.57 million in gross revenue. The Atalandi, built in 2014, has a 77,529 dwt capacity. Following the sale of m/v Houston, Diana Shipping will have a fleet of 38 dry bulk vessels. Additionally, the company plans to add two methanol dual fuel Kamsarmax ships by 2027-2028. The current fleet, excluding the new additions, has a total capacity of approximately 4.4 million dwt, with an average age of 10.94 years.

Diana Shipping (NYSE: DSX) has extended the time charter contract for its Newscastlemax dry bulk vessel, m/v Los Angeles, with Nippon Yusen Kabushiki Kaisha. The new contract, commencing on July 18, 2024, offers a gross charter rate of $28,700 per day, minus a 5% commission, lasting until at least October 1, 2025, and at most December 15, 2025. The vessel is currently chartered at $17,700 per day. This extension is anticipated to generate around $12.43 million in gross revenue. Following the sale of m/v Houston, Diana Shipping's fleet will include 38 dry bulk vessels, with a combined carrying capacity of 4.4 million dwt and an average age of 10.92 years. Additionally, the company expects the delivery of two methanol dual-fuel Kamsarmax vessels by 2027 and 2028.