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Diana Shipping Inc. (NYSE: DSX) is a prominent global provider of shipping transportation services, primarily focusing on dry bulk cargoes. The company operates an extensive fleet of vessels including Panamax, Kamsarmax, Post-Panamax, Capesize, and Newcastlemax types, which are employed on medium to long-term time charters. These vessels transport a variety of commodities such as iron ore, coal, grain, steel products, cement, and fertilizers across international shipping routes.
Founded and incorporated in the Marshall Islands, Diana Shipping Inc. is headquartered in Athens, Greece. The company made its debut on the New York Stock Exchange on March 23, 2005, following its initial public offering. The company’s business model relies heavily on the operation of its fleet, with revenue generated through the services provided by these vessels in a uniformly regulated economic environment.
Recent achievements of Diana Shipping include expanding its fleet and securing long-term charters with reputable clients, ensuring reliable revenue streams. The company continues to focus on operational efficiency and fleet management to maintain its competitive edge in the shipping industry.
For more detailed insights and the latest updates, visit our corporate profile.
Diana Shipping (NYSE: DSX) has announced two time charter contract extensions for its vessels. The Capesize vessel m/v Semirio (174,261 dwt) has been extended with Solebay Shipping at a gross rate of $16,650/day (up from $14,150/day), running from February 4, 2025, until minimum February 15, 2026. The m/v DSI Aquila Ultramax vessel (60,309 dwt) extends with Western Bulk Carriers at $12,250/day (slightly down from $12,500/day) for 5-7 months from January 23, 2025.
These extensions are expected to generate approximately $7.52 million in gross revenue for the minimum scheduled period. The company's fleet consists of 38 dry bulk vessels with a combined capacity of 4.2 million dwt and an average age of 11.29 years. Additionally, Diana Shipping expects delivery of two methanol dual fuel Kamsarmax vessels by 2027-2028.
Diana Shipping Inc. (NYSE: DSX) has secured a new time charter contract with SwissMarine Pte. for its Capesize vessel m/v New York. The contract features a split rate structure: US$6,300 per day for the first trip and US$17,600 per day for the remaining period, both minus a 5% third-party commission. The charter will run from January 12, 2025, until minimum January 15, 2026, with a possible extension to March 30, 2026.
The 177,773 dwt vessel, built in 2010, is expected to generate approximately US$6.03 million in gross revenue for the minimum scheduled period. Diana Shipping's current fleet comprises 38 dry bulk vessels with a combined capacity of 4.2 million dwt and an average age of 11.28 years. The company also has two methanol dual fuel Kamsarmax vessels on order for delivery in 2027-2028.
Diana Shipping (NYSE: DSX) has announced the final results of its self tender offer to purchase common stock shares. The company offered to buy up to 15,000,000 shares at US$2.00 per share. The tender offer, which expired on December 31, 2024, was undersubscribed with 11,442,645 shares tendered. As a result, Diana Shipping will purchase all validly tendered shares for a total aggregate purchase price of US$22,885,290.
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.
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