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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.
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Diana Shipping Inc. (NYSE: DSX) has taken delivery of the m/v DSI Andromeda, a 2016-built Ultramax dry bulk vessel of 60,309 dwt, as part of its agreement to purchase nine vessels. The company also entered a time charter contract for the m/v DSI Polaris with ASL Bulk Marine Limited, set at a gross rate of $13,100 per day for 18-20 months, expected to yield approximately $7.07 million in gross revenue. Diana Shipping's fleet now consists of 39 vessels, with plans to add four more Ultramax vessels by the end of 2022, increasing their carrying capacity to approximately 4.7 million dwt.
Diana Shipping Inc. (NYSE: DSX) announced the delivery of the m/v DSI Polaris, a 2018-built Ultramax dry bulk vessel, increasing its fleet to 38 vessels. This delivery is part of an agreement to acquire nine Ultramax dry bulk vessels entered in August 2022. The fleet now has a combined carrying capacity of about 4.6 million dwt and a weighted average age of 10.23 years. Diana Shipping expects to receive five more Ultramax vessels in Q4 2022, emphasizing its growth strategy in the dry bulk shipping sector.
Diana Shipping Inc. (NYSE: DSX) announced three new time charter contracts for its dry bulk vessels: the m/v Amphitrite, m/v Crystalia, and m/v DSI Phoenix. The Amphitrite will generate $14,250 per day until February 2024, while the Crystalia will earn $12,500 per day up to October 2023. The DSI Phoenix has secured a rate of $13,250 per day for up to 18 months. Collectively, these charters are expected to yield approximately $15.45 million in gross revenue. Diana Shipping currently operates a fleet of 37 vessels, with a total carrying capacity of about 4.6 million dwt.
Diana Shipping Inc. (NYSE: DSX) announced the delivery of the m/v DSI Phoenix, a 2017-built Ultramax dry bulk vessel with a capacity of 60,456 dwt. This vessel is part of a larger agreement to acquire nine modern Ultramax vessels initiated in August 2022. Following this delivery, the company now operates a fleet of 37 dry bulk vessels, with a total carrying capacity of approximately 4.6 million dwt and a weighted average age of 10.29 years. Six additional Ultramax vessels are expected to join the fleet in Q4 2022.
Diana Shipping Inc. (NYSE: DSX) has secured a time charter contract for its Ultramax dry bulk vessel, m/v DSI Pollux, with Delta Corp Shipping Pte. Ltd. The charter, effective immediately, is set for a minimum of 14 months and can extend up to 16 months at a rate of US$17,000 per day, translating to approximately US$7.14 million in gross revenue for the minimum duration. Currently, Diana Shipping operates a fleet of 36 vessels and expects delivery of 7 additional Ultramax vessels later this year.
Diana Shipping Inc. (NYSE: DSX) announced the delivery of the m/v DSI Pollux, a 2015-built Ultramax dry bulk vessel, expanding its fleet to 36 vessels. This acquisition is part of an agreement to purchase nine modern Ultramax vessels, with seven more expected by Q4 2022. The fleet now boasts an approximate carrying capacity of 4.5 million dwt and an average age of 10.33 years. The company primarily employs its vessels for short to medium-term charters, transporting bulk cargo globally.
Diana Shipping Inc. (NYSE: DSX) will announce its financial results for the third quarter ending September 30, 2022, on November 17, 2022, before U.S. markets open. A conference call and webcast will be held at 9:00 A.M. ET on the same day. Investors can access the webcast via the company’s website, where an investor presentation will also be available. For those unable to attend, a replay will be accessible for 30 days through the website and by phone. Diana Shipping specializes in owning and chartering dry bulk vessels, transporting key commodities globally.
Diana Shipping Inc. (NYSE: DSX) announced the delivery of the m/v DSI Pyxis, a 2018-built Ultramax dry bulk vessel, expanding its fleet to 35 vessels. The acquisition follows an agreement to purchase nine Ultramax vessels, and the new vessel will be chartered to Cargill Ocean Transportation for a minimum of 10 months at a gross rate of $17,100 per day. This charter is expected to generate approximately $5.13 million in gross revenue. The fleet's total carrying capacity stands at around 4.4 million dwt with a weighted average age of 10.34 years.
Diana Shipping Inc. (NYSE: DSX) has secured a senior secured term loan facility of up to US$200 million from Nordea Bank, announced on October 3, 2022. This funding will facilitate the acquisition of nine ultramax dry bulk vessels, expected to be delivered in Q4 2022. Following this acquisition, the company's fleet will expand to 43 vessels, with a combined capacity of approximately 4.4 million dwt and an average age of 10.4 years.
Diana Shipping Inc. (NYSE: DSX) announced the sale and leaseback of two Capesize vessels, m/v New Orleans and m/v Santa Barbara, generating gross proceeds of US$66.4 million (US$33.2 million each). The company will bareboat charter-in these vessels for eight years, with purchase options available after three years. With the completion of this transaction, alongside the sale of m/v Baltimore and acquisition of nine new vessels, Diana Shipping's fleet will comprise 43 dry bulk vessels, totaling approximately 4.5 million dwt and a weighted average age of 10.62 years.
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