Diana Shipping Discloses $103.5M Stake (14.93%) in GNK

Rhea-AI Filing Summary

Diana Shipping Inc. reports holding 6,413,151 common shares of GENCO SHIPPING & TRADING LTD, representing 14.93% of outstanding shares based on issuer data as of August 6, 2025. The reporting person acquired these shares in open-market transactions between April 23, 2025 and September 29, 2025 using working capital for an aggregate purchase price of $103,523,853.62. Diana Shipping states it has sole voting and dispositive power over all reported shares and that no part of the purchase price was borrowed for these acquisitions. The amendment updates Items 3, 5 and 7 of the original Schedule 13D filing and incorporates exhibits identifying directors and recent transactions.

Positive

• Significant disclosed stake: Reporting person beneficially owns 6,413,151 shares, equal to 14.93% of GNK's outstanding shares.
• Transparent funding: Acquisitions were funded with working capital and the filing states no borrowings were used to purchase the shares.
• Detailed transaction disclosure: Aggregate purchase cost disclosed as $103,523,853.62, and recent transactions are referenced in an exhibit.

Negative

• None.

Insights

Financial Analyst

TL;DR: A maritime peer now holds a near-15% stake in GNK after $103.5M of open-market purchases, creating a significant shareholder position.

Diana Shipping's accumulation to 14.93% is a material ownership level that can influence corporate governance and strategic outcomes. The purchases were funded with working capital and not borrowed, which suggests a financed accumulation rather than leverage-driven exposure. The filing amends prior disclosures and provides transaction details and officer identification via exhibits. For investors, the key facts are the size of the stake, the source of funds, and sole voting control over the shares.

Corporate Governance Expert

TL;DR: A single reporting company holds sole voting power over 14.93% of GNK, a position that could be strategically significant.

The disclosure confirms sole voting and dispositive authority, which is important for board dynamics and shareholder votes. The filing does not indicate any formal agreement, group affiliation, or plans to change control, and it references exhibits for officers and recent transactions. Absent additional statements of intent or coordination, this remains a significant but currently standalone equity stake disclosed under Schedule 13D/A.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 2)

GENCO SHIPPING & TRADING LTD

(Name of Issuer)

Common Shares, $0.01 par value per share

(Title of Class of Securities)

Y2685T131

(CUSIP Number)

Mr. Ioannis Zafirakis
Pendelis 16, Palaio Faliro
Athens, J3, 175 64
30-210-9485-360

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

09/29/2025

(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).

SCHEDULE 13D

CUSIP No. 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)

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 6,413,151.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 6,413,151.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

6,413,151.00

12

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

13

Percent of class represented by amount in Row (11)

14.93 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Shares, $0.01 par value per share
(b)	Name of Issuer: GENCO SHIPPING & TRADING LTD
(c)	Address of Issuer's Principal Executive Offices: 299 PARK AVENUE, 12TH FLOOR, NEW YORK, NEW YORK , 10171.
Item 1 Comment: This Amendment No. 2 to Schedule 13D (the "Schedule 13D/A") amends and supplements, to the extent set forth herein, the statement on Schedule 13D originally filed with the Securities and Exchange Commission (the "SEC") on July 17, 2025 (the "Schedule 13D"), and amended on July 31, 2025. This Schedule 13D/A amends Items 3, 5 and 7. Except as expressly amended by this Schedule 13D/A, the Schedule 13D remains in effect. Capitalized terms not otherwise defined in this Schedule 13D/A shall have the meaning ascribed to them in the Schedule 13D.
Item 3.	Source and Amount of Funds or Other Consideration
	During the period of April 23, 2025 through September 29, 2025, the Reporting Person acquired the Shares reported in this Schedule 13D/A in open market transactions using its working capital for an aggregate consideration of $103,523,853.62. Unless noted above, no part of the purchase price for such Shares was borrowed by the Reporting Person for the purpose of acquiring, holding, trading or voting any securities discussed in this Item 3.
Item 5.	Interest in Securities of the Issuer
(a)	According to information provided by the Issuer in its Current Report on Form 10-Q filed by the Issuer on August 6, 2025 the Issuer had 42,959,464 Shares outstanding as of August 6, 2025. Based on the foregoing, the Reporting Person is the record holder of 6,413,151 Shares representing 14.93% of the Issuer's issued and outstanding Shares.
(b)	As of the date of this filing the Reporting Person has the sole power to vote or direct the vote of 6,413,151 Shares and has the shared power to vote or direct the vote of 0 Shares.
(c)	Except as otherwise disclosed herein and in Exhibit B to this Schedule 13D/A, no transactions in the Shares were effected by the Reporting Person during the past 60 days.
(d)	No other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, any of the Shares beneficially owned by the Reporting Person.
(e)	Not applicable.
Item 7.	Material to be Filed as Exhibits.
	Exhibit A: Directors and Officers (incorporated by reference as Exhibit A to the Schedule 13D as filed by the Reporting Person with the SEC on July 17, 2025) Exhibit B: Information with Respect to Transactions Effected in the Last 60 Days.

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:	09/30/2025

FAQ

How many GNK shares does Diana Shipping report owning?

The filing reports 6,413,151 shares, representing 14.93% of GNK's outstanding common shares.

How much did Diana Shipping pay to acquire its GNK stake?

Diana Shipping reports an aggregate purchase price of $103,523,853.62 for the shares acquired.

How were the GNK acquisitions funded?

The filing states the shares were acquired in open-market transactions using working capital and that no part of the purchase price was borrowed.

Does Diana Shipping have voting control over the reported GNK shares?

Yes. The reporting person has sole voting power and sole dispositive power over all 6,413,151 reported shares.

Does the filing indicate coordinated action with other investors?

No. The filing states no group affiliation and does not disclose any agreements or coordination with other persons regarding the shares.