Diana Shipping, Inc. - DSX STOCK NEWS

Diana Shipping Inc. (NYSE: DSX) announced a new time charter contract for its Capesize vessel, the m/v New Orleans. The charter, effective December 3, 2020, has a gross daily rate of US$15,500 until at least January 25, 2022, potentially extending to March 25, 2022. This contract is expected to generate approximately US$6.37 million in gross revenue. Following the sale of two vessels, the company's fleet will consist of 38 dry bulk vessels with a total carrying capacity of around 5.0 million dwt.

Diana Shipping (NYSE: DSX) announced a new time charter contract for its Panamax vessel, m/v Artemis, with Glencore Agriculture B.V. The charter at a gross rate of $10,250 per day will run from now until March 30, 2022, generating approximately $4.06 million in gross revenue. This follows a prior charter arrangement with Koch Shipping Pte. Ltd. for the same vessel. Post-sales of two vessels, Diana Shipping's fleet will comprise 38 dry bulk vessels with a total capacity of about 5.0 million dwt and an average age of 10.15 years.

Diana Shipping Inc. (NYSE: DSX) announced a time charter contract with CLdN Cobelfret SA for its Post-Panamax dry bulk vessel, m/v Polymnia. The charter, effective from November 22, 2020, has a gross rate of US$12,100 per day with a duration until October 15, 2021, extending to December 25, 2021. This agreement is expected to generate approximately US$3.91 million in gross revenue. Following the sale of two vessels, the company's fleet will comprise 38 vessels with a total capacity of approximately 5 million dwt and an average age of 10.14 years.

Diana Shipping reported a net loss of $13.2 million for Q3 2020, a significant decline from a net income of $1.8 million in Q3 2019. The loss attributed to common stockholders reached $14.6 million, including a $6.8 million impairment loss from vessel sales. Time charter revenues dropped to $42.3 million, down from $53.5 million year-over-year, mainly due to reduced ownership days from vessel sales and declining charter rates. For the nine months ended September 30, 2020, the net loss totaled $126.8 million amidst a significant impairment loss of $102.5 million.

Diana Shipping Inc. (NYSE: DSX) has entered a time charter contract with Cargill International S.A. for its Kamsarmax vessel, m/v Medusa, at a gross rate of $11,000 per day. The charter will run from November 2020 to a minimum of January 10, 2022, generating approximately $4.52 million in gross revenue. Post the sale of two vessels, the company will operate 38 dry bulk vessels, with a total capacity of about 5 million dwt and an average fleet age of 10.09 years.

Diana Shipping Inc. (NYSE: DSX) has scheduled its financial results for Q3 2020 to be released on November 23, 2020, before U.S. markets open. Management will hold a conference call at 9:00 A.M. ET on the same day for a detailed review. Investors can access the live webcast on the company's website or by phone. A replay of the call will be available for 30 days. The company specializes in dry bulk vessel ownership, primarily operating under medium to long-term time charters, transporting various commodities globally.

Diana Shipping Inc. (NYSE: DSX) announced the sale of the 2006-built vessel 'Sideris GS' to an unaffiliated buyer for $11.5 million, to be delivered by January 20, 2021. Following this sale and the previous sale of the m/v Coronis, Diana Shipping's fleet will consist of 38 vessels with a combined capacity of approximately 5.0 million dwt. The weighted average age of the fleet will be 9.96 years. This transaction highlights the Company's strategy to optimize its fleet portfolio and improve operational efficiency.

Diana Shipping Inc. (NYSE: DSX) has signed a Memorandum of Agreement to sell the 2006-built vessel ‘Coronis’ to an unrelated third party for US$7.1 million, scheduled for delivery by January 20, 2021. Post-sale, Diana's fleet will consist of 39 dry bulk vessels, with a combined carrying capacity of approximately 5.0 million dwt and an average age of 9.95 years. The company focuses on transporting dry bulk cargoes via medium to long-term time charters.

Diana Shipping Inc. (NYSE: DSX) announced a time charter contract with Koch Shipping Pte. Ltd. for its Newcastlemax vessel, m/v Newport News. The charter, starting later today, will generate approximately US$7.3 million in gross revenue over its minimum period, set until October 16, 2021. The gross charter rate is US$18,400 per day, with a 5% commission. Currently, the vessel is chartered to SwissMarine Services S.A. at US$16,500 per day. Diana Shipping operates a fleet of 40 dry bulk vessels with a combined capacity of 5.0 million dwt and a weighted average age of 9.92 years.