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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 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.
Diana Shipping announced the results of its 2024 Annual Meeting held virtually on May 21, 2024.
Shareholders approved the election of four Class I Directors to serve until the 2027 Annual Meeting. Additionally, Deloitte Certified Public Accountants S.A. was appointed as the Company’s independent auditors for the fiscal year ending December 31, 2024.
Broadridge Financial Solutions acted as the meeting's inspector. Details of the proposals were distributed to shareholders on April 10, 2024, via the Notice of Annual Meeting and Proxy Statement.
Diana Shipping (NYSE: DSX), a global shipping company specializing in dry bulk vessels, announced that it will release its Q1 2024 financial results on May 28, 2024, before U.S. markets open.
Management will discuss the results in a conference call and webcast at 9:00 A.M. ET on the same day. Investors can access the webcast and accompanying presentation via the company's website.
Replay options for both the webcast and the conference call will be available for 30 days.
Diana Shipping Inc. has entered into a time charter contract with ASL Bulk Shipping for the m/v Leto, a Panamax dry bulk vessel. The gross charter rate is US$16,000 per day for a period until minimum March 1, 2025. The charter is expected to generate approximately US$4.75 million of gross revenue. Diana Shipping's fleet will consist of 38 dry bulk vessels after the sale of m/v Houston. The Company also expects to receive two new-building Kamsarmax vessels by 2028.
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