Diana Shipping (GNK holder) ends $470.5M Genco vessel deal, keeps 14.4% stake

Rhea-AI Filing Summary

Diana Shipping Inc. reports its ownership position in Genco Shipping & Trading Limited, holding 6,264,548 shares of common stock with sole voting and dispositive power. This represents 14.4% of Genco’s common stock, based on 43,586,605 shares outstanding as of August 5, 2026.

The amendment also discloses that a previously announced definitive agreement for Star Bulk Carriers Corp. to acquire 16 vessels of Genco for $470.5 million in cash, which was contingent on Diana acquiring all remaining Genco shares, was terminated effective August 10, 2026 with no further commitments or obligations between Diana and Star Bulk.

Key Figures

Beneficial ownership: 6,264,548 shares Ownership percentage: 14.4% Shares outstanding: 43,586,605 shares +3 more

6 metrics

Beneficial ownership 6,264,548 shares Shares of Genco common stock beneficially owned by Diana Shipping Inc.

Ownership percentage 14.4% Percent of Genco common stock represented by Diana’s holdings

Shares outstanding 43,586,605 shares Genco common shares outstanding as of August 5, 2026

Vessel sale value $470.5 million Cash consideration for 16 Genco vessels in the terminated Star Bulk agreement

Number of vessels 16 vessels Genco vessels subject to the terminated Star Bulk acquisition agreement

Effective termination date August 10, 2026 Date on which the Star Bulk Agreement was terminated with no further obligations

Key Terms

beneficially owned, Sole Voting Power, Sole Dispositive Power, definitive agreement, +1 more

5 terms

beneficially owned financial

"Aggregate amount beneficially owned by each reporting person 6,264,548.00"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Sole Voting Power financial

"Number of Shares Beneficially Owned by Each Reporting Person With: Sole Voting Power 6,264,548.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

Sole Dispositive Power financial

"Number of Shares Beneficially Owned by Each Reporting Person With: Sole Dispositive Power 6,264,548.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

definitive agreement regulatory

"Reporting Person entered into a definitive agreement with Star Bulk Carriers Corp."

A definitive agreement is a formal, legally binding document that outlines the final terms and conditions of a deal or transaction, such as a sale or partnership. It acts like a detailed contract that confirms all parties have agreed on the key details, making the deal official. For investors, it signals that the agreement is settled and moving toward completion, providing clarity and security about the transaction.

Schedule 13D regulatory

"previously filed a statement on Schedule 13D to report the acquisition"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/10/2026 - 08:48 PM Accepted by SEC EDGAR 08/10/2026 - 08:47 PM Learn about SEC filing dates

FAQ

What percentage of Genco Shipping (GNK) does Diana Shipping currently own?

Diana Shipping Inc. beneficially owns 6,264,548 shares of Genco Shipping & Trading Limited, representing 14.4% of the company’s common stock. This percentage is based on 43,586,605 shares outstanding as of August 5, 2026.

How many Genco Shipping (GNK) shares does Diana Shipping control and with what powers?

Diana Shipping controls 6,264,548 Genco shares with sole voting power and sole dispositive power over all of them. The filing reports no shared voting or shared dispositive power with any other party.

What happened to the $470.5 million vessel sale agreement involving Genco Shipping (GNK)?

The definitive agreement for Star Bulk Carriers Corp. to acquire 16 Genco vessels for $470.5 million in cash was terminated effective August 10, 2026. The filing states there are no further commitments or obligations between Diana Shipping and Star Bulk.

Was Diana Shipping planning to acquire all remaining Genco Shipping (GNK) shares?

The document refers to a contemplated transaction where Diana Shipping would acquire all Genco shares it did not already own. The vessel sale agreement to Star Bulk was expressly subject to consummation of that acquisition transaction.

On what share count is Diana Shipping’s 14.4% stake in Genco (GNK) calculated?

The 14.4% ownership stake is calculated using 43,586,605 Genco common shares outstanding as of August 5, 2026, as reported in Genco’s Quarterly Report on Form 10-Q filed on that same date.

What exhibits are associated with the terminated Star Bulk agreement for Genco Shipping (GNK)?

The amendment lists two exhibits: Exhibit A, a termination letter dated August 10, 2026 from Diana Shipping to Star Bulk, and Exhibit B, a joint press release dated the same day by Diana Shipping and Star Bulk.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 31)

GENCO SHIPPING & TRADING LIMITED

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

Y2685T131

(CUSIP Number)

Mr. Ioannis Zafirakis
Pendelis 16, Palaio Faliro,
Athens, J3, 175 64
30-210-947-0100

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

08/10/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): Y2685T131

1

Name of reporting person

Diana Shipping Inc.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

BK, WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

MARSHALL ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 6,264,548.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 6,264,548.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

6,264,548.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

14.4 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

All reported shares are owned by Diana Shipping Inc. Calculated based on 43,586,605 shares of common stock, par value $0.01 per share, of the Issuer outstanding as of August 5, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 5, 2026.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, par value $0.01 per share
(b)	Name of Issuer: GENCO SHIPPING & TRADING LIMITED
(c)	Address of Issuer's Principal Executive Offices: 299 PARK AVENUE, 12TH FLOOR, New York, NEW YORK , 10171.
Item 1 Comment: This Amendment No. 31 (this "Amendment") amends and supplements, to the extent set forth herein, the statement on Schedule 13D originally filed by Diana Shipping Inc. ("Diana" or the "Reporting Person") with the Securities and Exchange Commission (the "SEC") on July 17, 2025 (and amended on July 31, 2025, September 30, 2025, November 24, 2025, January 13, 2026, January 16, 2026, March 10, 2026, March 23, 2026, April 13, 2026, May 4, 2026, May 7, 2026, May 12, 2026, May 18, 2026, May 19, 2026, May 27, 2026, May 28, 2026, June 1, 2026, June 2, 2026, June 4, 2026, June 8, 2026, June 11, 2026, June 12, 2026, June 15, 2026, June 16, 2026, June 17, 2026, June 18, 2026, June 29, 2026, June 30, 2026, July 8, 2026, July 13, 2026, and July 27, 2026) in respect of the Common Shares of the Company. Except as expressly provided herein, this Amendment does not modify the information previously reported on the Current Schedule 13D. Capitalized terms not otherwise defined in this Amendment shall have the meaning ascribed to them in the Current Schedule 13D. This Amendment relates to the shares of common stock (the "Shares"), par value $0.01 per share, of Genco Shipping & Trading Limited, a Marshall Islands corporation (the "Issuer").
Item 3.	Source and Amount of Funds or Other Consideration
	Item 3 of the Current Schedule 13D is hereby amended and supplemented to add the following: The information set forth in Item 4 of this Amendment is incorporated herein by reference in its entirety.
Item 4.	Purpose of Transaction
	Item 4 of the Current Schedule 13D is hereby amended and supplemented to add the following: As previously disclosed in Amendment No. 6, on March 6, 2026, Reporting Person entered into a definitive agreement with Star Bulk Carriers Corp. ("Star Bulk" and the "Star Bulk Agreement") (Nasdaq: SBLK) for Star Bulk to acquire 16 vessels of the Issuer for $470.5 million cash upon, and subject to, the consummation of a transaction providing for the Reporting Person's acquisition of all of the issued and outstanding Shares not already owned by the Reporting Person. Effective as of August 10, 2026, the Star Bulk Agreement was terminated with no further commitments or obligations on the part of the Reporting Person or Star Bulk. A termination letter is attached as Exhibit A to this Amendment.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	Item 6 of the Current Schedule 13D is hereby amended and supplemented to add the following: The description set forth in Item 4 of this Amendment is incorporated herein by reference in its entirety.
Item 7.	Material to be Filed as Exhibits.
	Exhibit A: Termination Letter, dated August 10, 2026, submitted by the Reporting Person to Star Bulk. Exhibit B: Joint Press Release, dated August 10, 2026, issued by the Reporting Person and Star Bulk.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Diana Shipping Inc.

Signature:	/s/ Ioannis Zafirakis
Name/Title:	Ioannis Zafirakis, Authorized Representative
Date:	08/10/2026