Diana Shipping

Diana Shipping, Inc. operates as a holding company, which engages in the provision of shipping transportation services through the ownership and operation of dry bulk vessels. Its vessels are being employed primarily on medium to long-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain, and other materials along worldwide shipping routes. The company was founded on March 8, 1999 and is headquartered in Athens, Greece.

Earnings data Q4 2020

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Earnings data Q3 2024

Diana Shipping reports robust earnings, poised for strategic growth

Diana Shipping's Q4 2022 earnings call highlighted a successful year, strong financial performance, and strategic growth initiatives.
The company's commitment to shareholder value, fleet expansion plans, and focus on market dynamics position it well for future opportunities.
While facing challenges in the market environment, Diana Shipping remains resilient, adaptive, and poised to navigate industry headwinds effectively.

Diana Shipping reports profitable Q1 earnings, navigates debt challenges

Diana Shipping's Q1 2023 earnings call reflects a resilient performance, strong operational capabilities, and strategic financial decisions. While facing challenges such as high net debt and market uncertainties, the company is well-positioned to leverage opportunities for growth and profitability.

Diana Shipping reports resilient Q2 earnings amidst market challenges

Diana Shipping's Q2 2023 performance reflects resilience and operational strength amid market challenges, supported by strategic financial decisions and revenue visibility.
The company's dividend declaration, bond repurchase, and liquidity position underscore a commitment to shareholder value and financial stability.
While facing industry challenges and uncertainties, Diana Shipping remains positioned to leverage opportunities in securing profitable charters and optimizing its financial performance.

Diana Shipping reports profitable Q3, eyes growth amid market challenges

Diana Shipping's Q3 2023 performance was strong, with profitable results and a focus on securing revenue. The company faces challenges related to debt and market uncertainties but has opportunities for growth through strategic initiatives.
With a fleet of 42 vessels and high utilization rates, Diana Shipping aims to modernize its fleet and generate positive cash flows. The company's financial position remains stable with no debt maturities until 2026.

Diana Shipping reports resilient performance and strategic growth opportunities

Diana Shipping's Q4 2023 performance reflects resilience, operational efficiency, and strategic foresight amidst market challenges.
Strengths include dividend declaration, fleet enhancements, and industry recognition, bolstering shareholder confidence and market positioning.
Challenges lie in market uncertainties and debt management, while opportunities in chartering and sustainability offer avenues for growth and differentiation.

Diana Shipping excels in Q1 2024, eyes sustainable growth

Diana Shipping's strong Q1 2024 performance, strategic fleet management, and financial stability position the company for continued success.
While challenges like high long-term debt exist, opportunities in fleet expansion, sustainability efforts, and market monitoring offer avenues for growth.
By balancing operational efficiency, financial prudence, and strategic growth initiatives, Diana Shipping aims to navigate industry dynamics and deliver value to stakeholders.

Diana Shipping maintains operational resilience amidst market challenges in Q2

Diana Shipping's Q2 2024 performance reflects operational resilience with a focus on fleet efficiency and financial stability. The company faces challenges from market volatility and operational metrics decline but maintains a strong position with high fleet utilization and ESG commitments.
Key strengths include ESG initiatives, stakeholder relationships, and financial prudence. Opportunities lie in leveraging market developments, exploring new segments, and embracing technology for growth. Strategic focus on balance sheet strength and shareholder value creation underpins the company's long-term strategy.
Navigating challenges in the dry bulk carrier market, Diana Shipping remains proactive in addressing operational and market uncertainties. The company's commitment to ESG standards and modernization efforts align with industry trends, positioning it for sustainable growth. Opportunities for expansion and innovation offer avenues for future success.

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ATHENS, Greece, Nov. 08, 2024 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Stone Shipping Ltd, for one of its Ultramax dry bulk vessels, the m/v DSI Pyxis. The gross charter rate is US$13,100 per day, minus a 5.00% commission paid to third parties, for a period until minimum February 20, 2026 up to maximum April 20, 2026. The charter is expected to commence later today.

Diana Shipping Inc. Announces Time Charter Contract for m/v DSI Pyxis With Stone Shipping

ATHENS, Greece, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that its financial results for the third quarter ended September 30, 2024 are scheduled to be released before the opening of the U.S. financial markets on Monday, November 25, 2024.

Diana Shipping Inc. Announces the Date for the 2024 Third Quarter Financial Results, Conference Call and Webcast

ATHENS, Greece, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, has today successfully completed a US$25 million tap issue under its outstanding senior unsecured bond issue due July 2, 2029 with ISIN NO0013265835 (the "Bonds"). Total outstanding amount under the Bonds following the tap issue is US$175 million. The tap issue was initiated by a reverse inquiry and was priced at 102.00% of par value. Net proceeds from the tap issue will be used for general corporate purposes in accordance with the Bonds' terms.

Diana Shipping Inc. Announces Successful US$25 Million Tap Issue

ATHENS, Greece, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced the release of its Environmental, Social and Governance Report (the “ESG Report”), for the year ended December 31, 2023. The ESG Report provides an overview of the Company's policies and practices relating to its environmental, social and governance commitments. The ESG Report is available on the Company's website at www.dianashippinginc.com .

Diana Shipping Inc. Announces Release of Its 2023 Environmental, Social and Governance Report

ATHENS, Greece, Oct. 21, 2024 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced the successful signing of a US$80.2 million seven-year secured term loan facility with Danish Ship Finance A/S on October 18, 2024.

Diana Shipping Inc. Announces Signing of a US$80.2 Million Amended and Restated Loan Facility Agreement With Danish Ship Finance A/S to Refinance its Existing Term Loan Facility With the Bank

Diana Shipping recorded a weak quarter due to its significant exposure to long-term contracts. On the positive side, DSX has made changes in its capital structure. The company restructured its debt, moving significant maturities to 2029, enhancing dividend safety for both common and preferred shares. DSX declared a cash dividend on its common stock of $0.075/share. At the present stock price, the yield is 15.6%. DSX preferred shares are attractive, too. They offer 8.3% yield.

Diana Shipping: Improved Balance Sheet And Attractive Dividend Yield; Rating Upgrade

ATHENS, Greece, Oct. 16, 2024 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Raffles Shipping International Pte. Ltd., for one of its Panamax dry bulk vessels, the m/v Selina. The gross charter rate is US$10,500 per day, minus a 5.00% commission paid to third parties, for a period until minimum March 1, 2025 up to maximum April 20, 2025. The charter is expected to commence tomorrow.

Diana Shipping Inc. Announces Time Charter Contract for m/v Selina with Raffles Shipping

ATHENS, Greece, Oct. 03, 2024 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has extended the time charter contract with Aquavita International S.A., for one of its Post-Panamax dry bulk vessels, the m/v Phaidra. The gross charter rate is US$12,000 per day, minus a 4.75% commission paid to third parties, for a period until minimum May 1, 2025 up to maximum July 15, 2025. The new charter period is expected to commence on October 11, 2024.

Diana Shipping Inc. Announces Direct Continuation of Time Charter Contract For m/v Phaidra With Aquavita

ATHENS, Greece, Sept. 19, 2024 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Propel Shipping Pte. Ltd., for one of its Ultramax dry bulk vessels, the m/v DSI Altair. The gross charter rate is US$15,750 per day, minus a 5.00% commission paid to third parties, for a period until minimum November 1, 2025 up to maximum December 31, 2025. The charter is expected to commence on September 26, 2024. The m/v DSI Altair is currently chartered, as previously announced, to Western Bulk Carrier AS, at a gross charter rate of US$13,800 per day, minus a 5.00% commission paid to third parties.

Diana Shipping Inc. Announces Time Charter Contract for m/v DSI Altair with Propel Shipping

The combination of weak quarterly results and dilution from warrant exercises has resulted in Diana Shipping's shares underperforming peers by a wide margin so far this year. Management's conservative chartering approach has been a drag on operating performance in recent quarters as it takes time for unfavorable legacy contracts to roll over to prevailing market rates. However, the company's average daily TCE rate should increase in the second half of the year mostly due to vastly improved time charter contracts for a number of Capesize vessels.

Diana Shipping: Buy On 13.6% Dividend Yield And Discounted Valuation (Rating Upgrade)

ATHENS, Greece, Aug. 29, 2024 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Cargill Ocean Transportation (Singapore) Pte. Ltd., for one of its Ultramax dry bulk vessels, the m/v DSI Pegasus. The gross charter rate is US$15,250 per day, minus a 4.75% commission paid to third parties, for a period until minimum June 1, 2025 up to maximum August 1, 2025. The charter is expected to commence on September 4, 2024. The m/v DSI Pegasus is currently chartered, as previously announced, to Reachy Shipping (SGP) Pte. Ltd., at a gross charter rate of US$14,000 per day, minus a 5.00% commission paid to third parties.

Diana Shipping Inc. Announces Time Charter Contract for m/v DSI Pegasus with Cargill Ocean Transportation

ATHENS, Greece, Aug. 26, 2024 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Nippon Yusen Kabushiki Kaisha, Tokyo, for one of its Capesize dry bulk vessels, the m/v G. P. Zafirakis. The gross charter rate is US$26,800 per day, minus a 5.00% commission paid to third parties, for a period of minimum twenty-three (23) months to maximum twenty-six (26) months. The charter is expected to commence on September 9, 2024. The m/v G. P. Zafirakis was chartered, as previously announced, to Solebay Shipping Cape Company Limited, Hong Kong, at a gross charter rate of US$17,000 per day, minus a 5.00% commission paid to third parties.

Diana Shipping Inc. Announces Time Charter Contract for m/v G. P. Zafirakis with NYK Line

ATHENS, Greece, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Paralos Shipping Pte., Ltd., for one of its Kamsarmax dry bulk vessels, the m/v Astarte. The gross charter rate is US$14,000 per day, minus a 5.00% commission paid to third parties, for a period until minimum July 15, 2025 up to maximum September 15, 2025. The charter is expected to commence on August 18, 2024.

Diana Shipping Inc. Announces Time Charter Contract for m/v Astarte With Paralos Shipping

Diana Shipping Inc. (NYSE:DSX ) Q2 2024 Results Conference Call July 31, 2024 9:00 AM ET Company Participants Edward Nebb - Investor Relations Semiramis Paliou - Chief Executive Officer Stasi Margaronis - Director and President Ioannis Zafirakis - Director, Chief Financial Officer & Chief Strategy Officer Lefteris Papatrifon - Director Maria Dede - Chief Accounting Officer Operator Welcome to the Diana Shipping 2024 Second Quarter Conference Call and Webcast. At this time, all participants are in a listen-only mode.

Diana Shipping Inc. (DSX) Q2 2024 Earnings Call Transcript

Diana Shipping (DSX) came out with quarterly earnings of $0.01 per share, missing the Zacks Consensus Estimate of $0.05 per share. This compares to earnings of $0.10 per share a year ago.

Diana Shipping (DSX) Lags Q2 Earnings and Revenue Estimates

ATHENS, Greece, July 31, 2024 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today reported a net loss of $2.8 million and a net loss attributed to common stockholders of $4.2 million for the second quarter of 2024. This compares to net income of $10.4 million and net income attributed to common stockholders of $8.9 million for the second quarter of 2023. Loss per share for the second quarter of 2024 was $0.04 basic and diluted, compared to earnings per share of $0.09 basic and diluted in the same quarter in 2023.

Diana Shipping Inc. Reports Financial Results for the Second Quarter and Six Months Ended June 30, 2024; Declares Cash Dividend of $0.075 Per Common Share for the Second Quarter 2024

ATHENS, Greece, July 26, 2024 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced the successful signing of a US$167.3 million six-year secured term loan facility with Nordea Bank Abp, filial i Norge on July 25, 2024. The full amount was drawn down immediately.

Diana Shipping Inc. Announces Signing and Drawdown of a US$167.3 Million Term Loan Facility With Nordea Bank to Refinance Two Existing Term Loan Facilities With Nordea

ATHENS, Greece, July 24, 2024 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Stone Shipping Ltd, for one of its Ultramax dry bulk vessels, the m/v DSI Polaris. The gross charter rate is US$15,400 per day, minus a 5.00% commission paid to third parties, for a period until minimum June 1, 2025 up to maximum August 15, 2025. The charter commenced retroactively as of July 20, 2024. The m/v DSI Polaris was chartered, as previously announced, to ASL Bulk Marine Limited, at a gross charter rate of US$13,100 per day, minus a 5.00% commission paid to third parties.

Diana Shipping Inc. Announces Time Charter Contract For m/v DSI Polaris With Stone Shipping

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Should Value Investors Buy Diana Shipping (DSX) Stock?

ATHENS, Greece, July 11, 2024 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Cargill International S.A., Geneva, for one of its Ice Class Panamax dry bulk vessels, the m/v Atalandi. The gross charter rate is US$14,600 per day, minus a 4.75% commission paid to third parties, for a period until minimum June 1, 2025 up to maximum July 31, 2025. The charter is expected to commence on July 19, 2024.

Diana Shipping Inc. Announces Time Charter Contract for m/v Atalandi With Cargill

ATHENS, Greece, July 05, 2024 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has extended the time charter contract with Nippon Yusen Kabushiki Kaisha, Tokyo, for one of its Newcastlemax dry bulk vessels, the m/v Los Angeles. The gross charter rate is US$28,700 per day, minus a 5.00% commission paid to third parties, for a period until minimum October 1, 2025 up to maximum December 15, 2025. The new charter period is expected to commence on July 18, 2024. The m/v Los Angeles is currently chartered, as previously announced, at a gross charter rate of US$17,700 per day, minus a 5.00% commission paid to third parties.

Diana Shipping Inc. Announces Direct Continuation of Time Charter Contract for m/v Los Angeles with NYK Line

ATHENS, Greece, July 05, 2024 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that its financial results for the second quarter ended June 30, 2024 are scheduled to be released before the opening of the U.S. financial markets on Wednesday, July 31, 2024.

Diana Shipping Inc. Announces the Date for the 2024 Second Quarter Financial Results, Conference Call and Webcast

Diana Shipping is currently the cheapest bulker stock with a 50% discount, likely to decrease as earnings improve and the dividend is maintained. Despite some management concerns, my fair value estimate is around $4 per share, about 40% potential upside. The company specializes in dry bulk vessel ownership, with a fleet of 40 ships and a conservative chartering strategy.

Diana Shipping: The Cheapest Bulker With Downside Protection And A Great Technical Setup

Are Investors Undervaluing Diana Shipping (DSX) Right Now?

ATHENS, Greece, June 18, 2024 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced the pricing of a US$150 million private placement of senior unsecured bonds maturing in July 2029 and callable beginning three years after issuance. The bond offering was priced with a U.S. dollar fixed-rate coupon of 8.75%. Interest will be payable semi-annually in arrears in January and July of each year. The Company will apply for listing of the bonds on the Oslo Stock Exchange. The offering is expected to close on July 2, 2024, subject to customary closing conditions.

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