Diana Shipping, Inc. - DSX STOCK NEWS

Diana Shipping announced a time charter contract with Cargill International for its Ice Class Panamax vessel, m/v Atalandi. The contract, starting on July 19, 2024, offers a gross charter rate of $14,600 per day, after a 4.75% commission, until as early as June 1, 2025, and no later than July 31, 2025. This deal is expected to generate around $4.57 million in gross revenue. The Atalandi, built in 2014, has a 77,529 dwt capacity. Following the sale of m/v Houston, Diana Shipping will have a fleet of 38 dry bulk vessels. Additionally, the company plans to add two methanol dual fuel Kamsarmax ships by 2027-2028. The current fleet, excluding the new additions, has a total capacity of approximately 4.4 million dwt, with an average age of 10.94 years.

Diana Shipping (NYSE: DSX) has extended the time charter contract for its Newscastlemax dry bulk vessel, m/v Los Angeles, with Nippon Yusen Kabushiki Kaisha. The new contract, commencing on July 18, 2024, offers a gross charter rate of $28,700 per day, minus a 5% commission, lasting until at least October 1, 2025, and at most December 15, 2025. The vessel is currently chartered at $17,700 per day. This extension is anticipated to generate around $12.43 million in gross revenue. Following the sale of m/v Houston, Diana Shipping's fleet will include 38 dry bulk vessels, with a combined carrying capacity of 4.4 million dwt and an average age of 10.92 years. Additionally, the company expects the delivery of two methanol dual-fuel Kamsarmax vessels by 2027 and 2028.

Diana Shipping (NYSE: DSX) announced that it will release its financial results for the second quarter of 2024 on July 31, 2024, before U.S. markets open.

A conference call and webcast to discuss these results will take place the same day at 9:00 A.M. Eastern Time.

Investors can access the webcast through the company's website or via telephone. A replay will be available for 30 days on the company's website and by phone.

Diana Shipping announced the pricing of a US$150 million private placement of senior unsecured bonds. These bonds, maturing in July 2029, carry a fixed-rate coupon of 8.75% and are callable from three years after issuance. Interest will be paid semi-annually. The proceeds will be used to refinance existing US$125 million senior unsecured bonds due 2026 and for general corporate purposes. The bonds will be listed on the Oslo Stock Exchange, with the offering expected to close on July 2, 2024, subject to customary closing conditions.

Diana Shipping announced a time charter contract for its Kamsarmax dry bulk vessel, m/v Myrsini, with Cobelfret S.A. The charter rate is $17,100 per day, minus 5% commission, from June 25, 2024, to a period between February 1 and March 25, 2025. The current charter rate is $15,000 per day. This new contract will generate approximately $3.71 million in revenue. Diana Shipping's fleet will consist of 38 vessels after the sale of m/v Houston. The company plans to add two methanol dual fuel Kamsarmax vessels by 2028, bringing the total carrying capacity to about 4.4 million dwt with an average age of 10.86 years.

Diana Shipping announced its participation in fixed income investor calls.

They plan a USD-denominated senior unsecured bond issue with a five-year tenor, subject to market conditions.

The proceeds will be used to prepay an existing USD125 million bond maturing in June 2026, with the remaining funds for general corporate purposes.

The new bonds will be offered to qualified institutional buyers in the U.S. under Rule 144A and outside the U.S. under Regulation S.

The bonds will not be registered under the Securities Act and cannot be sold in the U.S. without registration or exemption.

This announcement is not an offer to sell or buy securities.

Diana Shipping (NYSE: DSX) has entered a time charter contract with Reachy Shipping for its Post-Panamax vessel, m/v Polymnia. Starting June 8, 2024, the vessel will earn $17,500 per day, minus a 5% commission, until at least August 1, 2025, potentially extending to September 30, 2025. This charter will generate around $7.25 million in gross revenue for the minimum period. Currently, Polymnia is chartered to Cobelfret at $15,000 per day. Diana Shipping's fleet will include 38 vessels after selling m/v Houston, with two new methanol dual-fuel Kamsarmax ships expected by 2028. The fleet's carrying capacity is approximately 4.4 million dwt with an average age of 10.84 years.

Diana Shipping announced a time charter contract with Aquavita International for the m/v Electra, a Post-Panamax dry bulk vessel. The contract offers a gross charter rate of $14,000 per day, less a 4.75% commission, from June 3, 2024, to a period ending between October 15, 2025, and December 31, 2025. This deal will generate around $6.89 million in gross revenue. The Electra, built in 2013, has a capacity of 81,150 dwt. Diana Shipping's fleet will consist of 38 vessels after the sale of m/v Houston, with a combined carrying capacity of approximately 4.4 million dwt and an average age of 10.83 years. The company also plans to acquire two methanol dual-fuel Kamsarmax vessels by 2027 and 2028.

Diana Shipping (NYSE: DSX) announced its first-quarter 2024 financial results. The company reported a net income of $2.1 million, compared to $22.7 million in Q1 2023. Net income attributable to common stockholders was $0.6 million, down from $21.3 million. Earnings per share (EPS) decreased to $0.01 from $0.22. Time charter revenues fell to $57.6 million from $72.6 million, due to lower average charter rates and ownership days. A $0.075 per share cash dividend was declared, payable on June 18, 2024. The fleet comprised 39 vessels, with an average age of 10.7 years. The company's TCE rate decreased to $15,051 from $18,503. Vessel operating expenses rose slightly to $5,775 per day from $5,396.