Diana Shipping Inc Stock Price, News & Analysis

Diana Shipping Inc. (NYSE: DSX) has secured a new time charter contract through its subsidiary with China Resource Chartering for its Panamax vessel, m/v Maera. The contract specifies a gross charter rate of $8,400 per day (minus 5% commission) from December 15, 2024, until minimum September 20, 2025, with possible extension to November 20, 2025. The charter is expected to generate approximately $2.31 million in gross revenue for the minimum period.

The Maera is a 75,403 dwt Kamsarmax vessel built in 2013. DSX's current fleet comprises 38 dry bulk vessels with a combined capacity of 4.2 million dwt and an average age of 11.21 years. The company anticipates delivery of two methanol dual fuel Kamsarmax vessels by 2027-2028.

Diana Shipping Inc. (NYSE: DSX) has secured a time charter contract with Paralos Shipping for its Kamsarmax vessel m/v Maia. The charter will run from December 9, 2024, until minimum November 1, 2025, at a gross rate of $11,600 per day (minus 5% commission). The contract is expected to generate approximately $3.75 million in gross revenue for the minimum period.

The Maia is an 82,193 dwt vessel built in 2009. Diana Shipping's current fleet comprises 38 dry bulk vessels with a combined capacity of 4.2 million dwt and an average age of 11.18 years. The company expects delivery of two methanol dual fuel Kamsarmax vessels by 2027-2028.

Diana Shipping Inc. (NYSE: DSX) has secured a time charter contract with Bunge SA, Geneva for its Ultramax dry bulk vessel, the m/v DSI Aquarius. The contract specifies a gross charter rate of $13,300 per day, with a 5% third-party commission, for a period of 10-12 months starting December 6, 2024. The vessel is expected to generate approximately $3.99 million in gross revenue for the minimum charter period. The company's fleet comprises 38 dry bulk vessels with a combined capacity of 4.2 million dwt and awaits delivery of two methanol dual fuel Kamsarmax vessels by 2027-2028.

Diana Shipping Inc. (NYSE: DSX) has announced a tender offer to purchase up to 15,000,000 shares, representing approximately 12.0% of its outstanding common stock, at $2.00 per share. The company will use available cash and cash equivalents for the purchase. The tender offer will expire on December 31, 2024, at 5:00 P.M. Eastern Time, unless extended or withdrawn. The Board initiated this repurchase based on the company's current cash position and stock price. Computershare Trust Company, N.A. will serve as the depositary, and Georgeson as the information agent for the tender offer.

Diana Shipping (NYSE: DSX) reported Q3 2024 financial results with net income of $3.7 million, down from $7.4 million in Q3 2023. Time charter revenues decreased to $57.5 million from $62.1 million year-over-year. Earnings per share were $0.02 basic and $0.00 diluted, compared to $0.06 in Q3 2023. The company declared a cash dividend of $0.01 per share, payable December 18, 2024. For the nine months ended September 30, 2024, net income was $3.0 million with time charter revenues of $171.1 million, compared to $40.5 million and $202.1 million respectively in the same period of 2023.

Diana Shipping Inc. (NYSE: DSX) has secured a time charter contract with Stone Shipping for its Ultramax vessel, m/v DSI Pyxis. The charter rate is set at $13,100 per day (minus 5% commission) from November 2024 until minimum February 20, 2026, potentially extending to April 20, 2026. The contract is expected to generate approximately $6.05 million in gross revenue for the minimum period.

The company's fleet comprises 38 dry bulk vessels with a total capacity of 4.2 million dwt and an average age of 11.11 years. Additionally, two methanol dual fuel Kamsarmax vessels are expected for delivery by 2H 2027 and 1H 2028.

Diana Shipping (NYSE: DSX) has scheduled the release of its 2024 third quarter financial results for Monday, November 25, 2024, before U.S. markets open. Management will host a conference call and webcast at 9:00 A.M. Eastern Time on the same day. Investors can access the webcast through the company's website, where an investor presentation will also be available. The conference call can be joined via telephone, with separate numbers for U.S. and international callers. Both the webcast and telephone replay will be available for 30 days after the event.

Diana Shipping Inc. (NYSE: DSX) has successfully completed a US$25 million tap issue under its outstanding senior unsecured bond issue due July 2, 2029. The tap issue was priced at 102.00% of par value, bringing the total outstanding amount under the Bonds to US$175 million. The company, which specializes in dry bulk vessel ownership and bareboat charter-in, plans to use the net proceeds for general corporate purposes in accordance with the Bonds' terms.

Diana Shipping Inc. (NYSE: DSX), a global dry bulk vessel shipping company, has released its Environmental, Social and Governance (ESG) Report for the year ended December 31, 2023. The report details the company's ESG policies and practices, demonstrating its commitment to sustainability in the maritime sector. CEO Semiramis Paliou emphasized the company's dedication to advancing industry ESG standards through innovation and strategic transformation.