Diana Shipping, Inc. - DSX STOCK NEWS

Diana Shipping Inc. (NYSE: DSX) has announced the acquisition of nine ultramax dry bulk vessels from Sea Trade Holdings for $330 million. The transaction includes $220 million in cash and $110 million in newly issued common shares priced at $5.95 per share. The vessels, built between 2015 and 2018, will enhance Diana's fleet, increasing its carrying capacity to approximately 4.9 million dwt. Deliveries are expected in Q4 2022, with funding sourced from cash on hand and a new credit facility in negotiation. Legal and financial advisors for both parties are disclosed in the announcement.

Diana Shipping Inc. (NYSE: DSX) has announced a time charter contract for its Kamsarmax vessel, the m/v Myrto, with Tata NYK Shipping Pte. Ltd. The charter, starting August 3, 2022, will operate at a gross rate of US$18,000 per day, generating approximately US$6.16 million over the minimum period through July 15, 2023. The company, following the sale of the m/v Baltimore, will own a fleet of 34 dry bulk vessels with a carrying capacity of around 4.5 million dwt. Diana Shipping specializes in dry bulk transportation, targeting short to medium-term charters.

Diana Shipping Inc. (NYSE: DSX) reported a significant increase in net income for Q2 2022, totaling $35.6 million, up from $2.8 million in Q2 2021. Net income attributed to common stockholders rose to $34.2 million from $1.4 million. Earnings per share reached $0.44 basic and $0.42 diluted, compared to just $0.02 in the same period the previous year. Time charter revenues also surged to $74.5 million, driven by increased charter rates, although partially offset by a reduced fleet size and higher off-hire days. The company declared a dividend of $0.275 per share.

Diana Shipping Inc. (NYSE: DSX) announced a new time charter contract for its Capesize vessel, the m/v Boston, with Aquavita International S.A. The charter commenced on July 15, 2022, with a gross rate of US$20,500 per day, expected to generate approximately US$5.25 million in gross revenue until at least April 1, 2023. This contract replaces a prior charter at US$13,000 per day. Following the sale of the m/v Baltimore, the company's fleet will consist of 34 vessels with a combined carrying capacity of 4.5 million dwt.

Diana Shipping Inc. (NYSE: DSX) will announce its financial results for Q2 2022 before U.S. markets open on July 28, 2022. The management team will hold a conference call at 9:00 A.M. ET on the same day to discuss the results. Investors can access the live webcast on the company's website, which will also host an investor presentation. A replay will be available for 30 days post-call via the website and by telephone for U.S. and international callers.

Diana Shipping Inc. (NYSE: DSX), a global shipping company, announced new time charter contracts for its dry bulk vessels. The m/v Electra, a Post-Panamax ship, will earn a gross rate of US$17,500 per day from Refined Success Limited starting July 2, 2022, through May 30, 2023. The m/v New York, a Capesize vessel, will secure US$23,000 per day from C Transport Maritime Ltd., with employment running until August 25, 2023. These contracts are projected to generate approximately US$12.48 million in gross revenue during their minimum duration.

Diana Shipping Inc. (NYSE: DSX) has announced a time charter contract for its Panamax dry bulk vessel, the m/v Selina, with Speed Logistics Marine Limited. The contract runs from June 17, 2022, to June 20, 2023, at a rate of $22,000 per day, generating approximately $6.56 million in gross revenue for the minimum period. Following the sale of the m/v Baltimore, Diana Shipping's fleet will consist of 34 vessels with a total carrying capacity of around 4.5 million dwt and a weighted average age of 10.38 years, emphasizing their operational capabilities in the dry bulk shipping market.

Diana Shipping Inc. (NYSE: DSX) has signed a Memorandum of Agreement to sell the m/v Baltimore to OceanPal Inc. for $22 million. The sale includes a payment structure where 20% is paid upfront and 80% upon delivery in preferred shares. The m/v Baltimore, a 2005-built Capesize vessel, has a carrying capacity of 177,243 dwt and will be delivered in Q3 2022 after scheduled drydocking. The sale was approved by a committee of independent directors following a right of first refusal agreement. Post-sale, Diana Shipping will have 34 vessels with a total capacity of approximately 4.5 million dwt.

Diana Shipping Inc. (NYSE: DSX) reported a strong financial performance for Q1 2022, achieving a net income of $26.0 million, compared to a net loss of $1.3 million in Q1 2021. Net income attributed to common shareholders was $24.6 million, with earnings per share at $0.32 basic and $0.31 diluted, reversing the prior year's loss per share of $0.03. Time charter revenues surged to $65.9 million from $41.1 million, propelled by increased average charter rates, despite a decrease in ownership days. The company declared a cash dividend of $0.25 per share, payable on June 17, 2022.