DIANA SHIPPING INC. SEC Filings

Diana Shipping Inc. reported that it has withdrawn its offer to acquire all outstanding shares of Genco Shipping & Trading Limited that it does not already own. The most recent proposal consisted of $24.80 in cash per Genco share (adjusted for a $0.80 dividend) plus one Diana share valued at $2.54 based on Diana’s 30‑day volume‑weighted average price as of June 16, 2026.

Diana states that Genco’s board, through its financial advisor, conveyed a counter set of terms including $27.50 per share in cash, $2.00 per share in dividends and three Diana shares per Genco share, implying total consideration of approximately $36.91 per share. Using Diana’s cited figures, this represents a 42% premium to Genco’s August 13, 2026 closing price and a 57% premium to its June 16, 2026 closing price, and would result in Genco shareholders owning about 47% of the combined company. Diana indicates it remains Genco’s largest shareholder and plans to continue monitoring the company and its commitments.

Diana Shipping Inc. reports that, at Star Bulk Carriers’ request, Diana and Star Bulk have mutually terminated their vessel sale and purchase agreement under which Star Bulk would have acquired 16 Genco vessels if Diana’s proposed acquisition of Genco had closed. Diana’s proposal to acquire all outstanding Genco shares it does not already own remains outstanding. The offer consists of $24.80 per Genco share in cash, adjusted for Genco’s recently declared $0.80 dividend, plus one Diana share valued at $2.54 based on Diana’s 30‑day volume‑weighted average price as of June 16, 2026.

Diana states that terminating the Star Bulk agreement does not affect its fully committed $1.411 billion financing for the proposed Genco transaction, which comes from six international banks and has no financing condition. The company reiterates its view that the proposal remains available to Genco shareholders while it seeks further engagement with Genco’s board.

Diana Shipping Inc. entered into a new time charter for its Capesize vessel m/v Florida with Nippon Yusen Kabushiki Kaisha of Tokyo. The charter carries a gross rate of US$30,500 per day, minus a 5.00% commission to third parties, for a minimum of 32 months and up to 35.5 months, and is expected to commence in the second quarter of 2027. The employment is anticipated to generate approximately US$29.28 million of gross revenue over the minimum period. The Florida is a 182,063 dwt Capesize vessel built in 2022 and is currently chartered to Bunge S.A. at US$25,900 per day. Diana Shipping’s fleet consists of 36 dry bulk vessels with combined carrying capacity of about 4.1 million dwt and a weighted average age of 12.70 years, and the company expects delivery of two methanol dual fuel Kamsarmax newbuildings by late 2027 and early 2028.

Diana Shipping Inc., a dry bulk carrier owner, reports unaudited results for the six months ended June 30, 2026. Time charter revenues were $112,020, up from $109,625, with a higher time charter equivalent (TCE) rate of $16,309 versus $15,615 and fleet utilization of 99.8%.

Operating income was $23,400, slightly below $24,031 a year earlier as voyage expenses, daily operating costs ($6,203 vs $5,905 per vessel-day) and depreciation rose. Net income increased to $49,908 from $7,539, mainly due to a $40,683 gain and $5,413 dividends from the Genco equity investment, lower interest and finance costs of $19,427, and a $201 gain on derivatives.

Net cash from operating activities grew to $37,834 from $25,835, while net cash used in financing was $38,084, largely from $31,095 of debt and lease repayments and $5,364 of preferred and common dividends. As of June 30, 2026, total assets were $1,195,401, long-term debt was $503,116 and finance liabilities $109,073; cash, cash equivalents and restricted cash totaled $117,928 and working capital was $141.4 million. The company has shipbuilding commitments of $73,600, remaining equity commitments to Windward and Ecogas, and minimum contracted charter revenue of $117,786.

Diana Shipping Inc. is reported to have 6,073,296 common shares beneficially owned by F. Laeisz GmbH, KG Reederei N. Schues mbH + Co., and Nikolaus H. Schues, representing 4.9% of the outstanding common shares, based on 124,402,479 shares outstanding as of May 27, 2026.

The reporting persons state that, as of April 17, 2026, they no longer hold the shares with a purpose or effect of changing or influencing control. The amendment reports that each has ceased to be a beneficial owner of more than five percent of the class and is characterized as an exit filing.

Diana Shipping Inc. reported stronger results for the quarter and six months ended June 30, 2026. For Q2 2026, time charter revenues were $57.3 million, net income was $20.8 million and net income attributable to common stockholders was $19.3 million, compared with $4.5 million and $3.1 million a year earlier. Basic and diluted earnings per share were $0.17 and $0.16, respectively. Operating income reached $12,099 thousand, and gain on equity securities of $14,261 thousand contributed to total other income of $8,660 thousand.

For the first half of 2026, time charter revenues were $112.0 million and net income attributable to common stockholders was $47.0 million, compared with $4.7 million in the prior-year period. Fleet utilization remained high at 99.6% in Q2 and 99.8% for the six months, with a Q2 time charter equivalent rate of $16,581 per day. Net cash provided by operating activities was $17,510 thousand in Q2. At June 30, 2026, total assets were $1,195,401 thousand, including $117,928 thousand of cash and $155,235 thousand of equity securities, against long-term debt and finance liabilities of $606,055 thousand. The board declared a cash dividend of $0.01 per common share, payable September 11, 2026 to shareholders of record on August 21, 2026.

Diana Shipping Inc. entered into a new time charter for its Newcastlemax vessel m/v Philadelphia with Classic Maritime Inc. at a gross rate of US$35,500 per day, minus a 5.00% commission, for a period running from minimum March 10, 2027 to maximum May 10, 2027. The charter is expected to commence on August 8, 2026 and is anticipated to generate about US$7.46 million in gross revenue over the minimum scheduled term.

Philadelphia is a 206,040 dwt Newcastlemax dry bulk vessel built in 2012 and is currently chartered to Refined Success Limited at US$21,500 per day, minus a 5.00% commission. Diana Shipping’s fleet consists of 36 dry bulk vessels with approximately 4.1 million dwt carrying capacity and a weighted average age of 12.67 years, and the company expects two methanol dual fuel Kamsarmax newbuildings by 2028.

Diana Shipping Inc. director Symeon Palios filed an amended initial ownership report to reflect a transfer of his holdings from Taracan Investments S.A., a wholly owned entity, to Limon Compania Financiera S.A., which he controls.

As of April 22, 2026, he indirectly reported 5,963,837 shares of common stock held through Limon, including 2,051,912 unvested shares awarded under the 2014 Equity Incentive Plan. He also indirectly holds 707, 439 warrants through Limon from a December 14, 2023 warrant dividend, exercisable for 1,189,537 shares of common stock.