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. (NYSE: DSX) is a global shipping company in the deep sea freight transportation industry, specializing in the ownership and bareboat charter-in of dry bulk vessels. Its vessels are employed primarily on short to medium-term time charters and transport dry bulk cargoes such as iron ore, coal, grain and other materials along worldwide shipping routes. This news page focuses on company announcements and regulatory disclosures that relate to these activities.
Visitors to this DSX news section can review press releases on new and renewed time charter contracts for specific vessels across Diana Shipping’s Newcastlemax, Capesize, Post-Panamax, Kamsarmax, Panamax and Ultramax fleet. The company regularly reports charter rates, charter durations, counterparties and anticipated gross revenues for these contracts, providing insight into fleet employment and utilization.
The news feed also includes fleet and asset updates, such as Memoranda of Agreement for vessel sales and changes to previously announced sale transactions. In addition, Diana Shipping publishes financial results for defined reporting periods, including time charter revenues, net income, fleet data and non-GAAP metrics such as time charter equivalent (TCE) rates and daily vessel operating expenses.
Another category of DSX news involves corporate and strategic developments, for example proposals to acquire remaining shares of another dry bulk shipping company and related communications, as well as announcements about officer resignations and appointments approved by the Board of Directors. Investors and analysts who follow the dry bulk shipping market can use this page to monitor Diana Shipping’s chartering activity, fleet composition, financial performance communications and corporate actions over time.
Diana Shipping (NYSE: DSX) has announced preliminary results of its self tender offer to purchase up to 15,000,000 shares of common stock at US$2.00 per share. The tender offer, which expired on December 31, 2024, received preliminary submissions of 12,067,782 shares, including 729,654 shares under guaranteed delivery procedure.
Due to the offer being undersubscribed, the company expects to purchase all validly tendered shares. The total purchase would amount to less than the initially offered US$30.0 million aggregate purchase price. Final results and payment details will be announced after the depositary's confirmation process is complete.
Diana Shipping Inc. (NYSE: DSX) has extended its time charter contract with Cobelfret S.A., Luxembourg for the Post-Panamax vessel m/v Amphitrite. The new charter terms include a rate of $8,750 per day for the first 50 days and $12,100 per day thereafter, minus 5% commission. The contract runs from December 31, 2024, until minimum January 1, 2026, with potential extension to March 15, 2026.
The extension is expected to generate approximately $4.22 million in gross revenue for the minimum period. The Amphitrite is a 98,697 dwt vessel built in 2012. DSX's current fleet comprises 38 dry bulk vessels with a combined capacity of 4.2 million dwt and an average age of 11.23 years. The company also anticipates delivery of two methanol dual fuel Kamsarmax vessels by 2027-2028.
Diana Shipping Inc. (NYSE: DSX) has secured a new time charter contract through its subsidiary with Nippon Yusen Kabushiki Kaisha, Tokyo, for its Kamsarmax vessel m/v Myrto. The contract features a gross charter rate of $12,000 per day (minus 5% commission) from December 23, 2024, until minimum March 1, 2026, with possible extension to May 15, 2026. The charter is expected to generate approximately $5.11 million in gross revenue for the minimum period.
The Myrto is an 82,131 dwt 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 11.22 years. The company also anticipates delivery of two methanol dual fuel Kamsarmax vessels by 2027-2028.
Diana Shipping Inc. (NYSE: DSX) has secured a new time charter contract with Mitsui O.S.K. Lines, for its Capesize vessel m/v Santa Barbara. The contract features a gross charter rate of $22,000 per day (minus 5% commission) from December 28, 2024, until minimum October 20, 2025. This represents an increase from the previous rate of $21,250 with Smart Gain Shipping Co.
The 179,426 dwt vessel, built in 2015, is expected to generate approximately $6.42 million in gross revenue for the minimum scheduled period. Diana Shipping's fleet currently comprises 38 dry bulk vessels with a combined capacity of 4.2 million dwt and an average age of 11.22 years. The company also anticipates delivery of two methanol dual fuel Kamsarmax vessels by 2027-2028.
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.