Athens-based and Nasdaq-listed shipowner and operator Diana Shipping Inc. (DSX), under the stewardship of Chief Executive Officer Semiramis Paliou, has been left with an ultramax bulk carrier still on its books after a promising and financially attractive sale agreement unexpectedly collapsed. The failed transaction involved the 2016-built ultramax bulk carrier 63K DWT MV DSI Drammen, a vessel jointly held by US-listed shipowner and operator Diana Shipping Inc. (DSX) and a consortium of undisclosed Norwegian investors. CEO Semiramis Paliou-led shipowner and operator Diana Shipping Inc. (DSX) announced on Monday that it has officially withdrawn from the previously declared disposal of the ultramax bulk carrier MV DSI Drammen, a ship in which Diana Shipping Inc. (DSX) maintains a minority equity position. That sale had originally been unveiled two months earlier, signalling the company’s intention to divest the vessel at a favourable valuation. The US-listed shipowner and operator Diana Shipping Inc. (DSX), which oversees a diverse fleet approaching 40 bulk carriers across the capesize, post-panamax, kamsarmax, panamax, ultramax and newcastlemax bulk carrier segments, had disclosed on 18 September 2025 that the 63,500-dwt DSI Drammen (built 2016) was slated to be sold to an unrelated buyer for $26.8 million before commissions. However, the collapse of the deal places renewed focus on Diana Shipping Inc. (DSX), a long-established and highly visible player in the global dry bulk market. Founded in 1999 and headquartered in Athens, Diana Shipping Inc. (DSX) has built its reputation on maintaining a modern, fuel-efficient, and charter-focused fleet with staggered employment strategies designed to minimise market volatility exposure. Under the leadership of Chief Executive Officer Semiramis Paliou, the shipowner and operator Diana Shipping Inc. (DSX) has continued to expand its operational resilience, strengthening its presence across major dry bulk trade routes and maintaining long-term relationships with top-tier charterers, including commodity houses, industrial majors, and international steel groups. Over the past decade, Diana Shipping Inc. (DSX) has also gradually rebalanced its fleet profile, adding modern ultramax and kamsarmax bulk carriers while phasing out older units in line with evolving environmental standards. The shipowner and operator has increasingly emphasised fleet renewals, energy-saving retrofits, scrubber installations, and compliance with decarbonisation frameworks such as IMO 2020 and the Carbon Intensity Indicator (CII). At the same time, Diana Shipping Inc. (DSX) remains known for its conservative financial posture, historically favouring secure time charter coverage, steady dividend policies, and transparent balance-sheet management. These strategic pillars have allowed the shipowner and operator to weather multiple cycles of freight-market turbulence, including the disruptions driven by geopolitical tensions, fluctuating commodity demand, and tightening environmental regulations. The failed MV DSI Drammen sale does not materially alter the long-term positioning of Diana Shipping Inc. (DSX), but it highlights the complexities of asset transactions during a period of volatile secondhand prices and shifting charter market sentiment. With a sizeable fleet, a disciplined commercial strategy, and strong corporate leadership under Chief Executive Officer Semiramis Paliou, the shipowner and operator Diana Shipping Inc. (DSX) continues to play a major role in shaping dry bulk market stability while pursuing selective divestments and acquisitions aligned with long-term shareholder value. 17-November-2025
Athens-based and Nasdaq-listed shipowner and operator Diana Shipping Inc. (DSX), under the leadership of Chief Executive Officer Semiramis Paliou, has secured a new charter for its 2015-built capesize bulk carrier MV Santa Barbara at an increased rate with Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S. The agreement underscores Diana Shipping Inc. (DSX)’s disciplined approach to long-term fleet management and its consistent success in obtaining premium period fixtures within the capesize segment. Established in 1871 and headquartered in Copenhagen, Dampskibsselskabet DS Norden A/S has agreed to pay $25,500 per day for the 2015-built capesize bulk carrier 179K DWT MV Santa Barbara for a period extending from a minimum of March 1, 2027, to a maximum of April 30, 2027. The new employment is set to begin on November 29, 2025. Athens-based and Nasdaq-listed shipowner and operator Diana Shipping Inc. (DSX) expects the charter to yield approximately $11.5 million in gross revenue during the minimum contractual period, reinforcing its ability to consistently generate stable cash flows from high-quality counterparties. The 2015-built capesize bulk carrier 179K DWT MV Santa Barbara is currently on hire to Tokyo-listed Japanese shipping conglomerate Mitsui O.S.K. Lines (MOL), one of the most globally diversified maritime transport organizations, via its subsidiary MOL Drbulk, at a rate of $22,000 per day. The forthcoming charter with Dampskibsselskabet DS Norden A/S represents a rate increase of $3,500 per day, reflecting the improving sentiment in the capesize sector and Diana Shipping Inc. (DSX)’s strong positioning within this market. The new fixture comes amid a period of sustained chartering activity by Athens-based and Nasdaq-listed shipowner and operator Diana Shipping Inc. (DSX). The Greek shipowner and operator has recently concluded several long-term charters across multiple segments. Notably, Diana Shipping Inc. (DSX) arranged a direct continuation for the 2007-built capesize bulk carrier MV Semirio with Solebay Shipping, scheduled to commence in March 2026, at a daily rate of $21,650 compared with the vessel’s current $16,650 rate. Additionally, earlier in November 2025, Diana Shipping Inc. (DSX) also fixed its 2012-built newcastlemax bulk carrier MV Los Angeles to Tokyo-listed Japanese shipping conglomerate Mitsui O.S.K. Lines (MOL), through MOL Drbulk, at $24,000 per day for about one year from November 2025, marking a $4,700 reduction compared with its previous charter with Nippon Yusen Kabushiki Kaisha (NYK Line).Headquartered in Athens, Diana Shipping Inc. (DSX) is one of the most established and publicly traded Greek shipowning enterprises specializing in dry bulk transportation. The fleet is composed exclusively of modern, high-specification bulk carriers covering capesize, post-panamax, kamsarmax, panamax, and ultramax segments, enabling the company to serve a broad range of global industrial clients transporting essential commodities such as iron ore, coal, grains, and fertilizers. Through its strategic focus on long-term charters with first-class charterers, Diana Shipping Inc. (DSX) emphasizes predictable revenue generation and conservative financial management, which has been a defining characteristic of its operational strategy since its listing on the Nasdaq Stock Market in 2005.Under the leadership of Chief Executive Officer Semiramis Paliou and founder Simeon Palios, Diana Shipping Inc. (DSX) has built a reputation for disciplined capital allocation, a strong balance sheet, and prudent market exposure management. The management team prioritizes maintaining a balanced charter portfolio between fixed-rate and spot exposure, allowing the fleet to benefit from rising freight rates while ensuring income stability across cycles. The company’s long-standing relationships with major charterers, including Mitsui O.S.K. Lines (MOL), Nippon Yusen Kabushiki Kaisha (NYK Line), Rio Tinto, and Cargill, continue to underpin its credibility and resilience across volatile market environments. Diana Shipping Inc. (DSX) also operates through its fully owned subsidiaries that manage technical and commercial operations, ensuring full in-house control over ship maintenance, safety compliance, and environmental performance. The firm’s focus on efficiency, regulatory compliance, and ESG alignment has positioned it as one of the leading publicly listed dry bulk shipowners in the world. In recent years, Diana Shipping Inc. (DSX) has invested in energy-saving devices and digital performance monitoring to enhance voyage efficiency and align with the International Maritime Organization’s decarbonization objectives. With a diversified fleet profile and long-term employment coverage, Athens-based and Nasdaq-listed shipowner and operator Diana Shipping Inc. (DSX) remains well-placed to capitalize on the ongoing recovery in the dry bulk market. Its strategy of disciplined fleet management, emphasis on operational reliability, and commitment to shareholder value continue to distinguish the firm as one of the most reputable names in the global shipping industry. 11-November-2025
Athens-based and New York-listed shipowner and operator OceanPal Inc., a dry bulk shipping enterprise and subsidiary of Diana Shipping Inc. (DSX) led by Semiramis Paliou, has made a bold strategic shift beyond traditional maritime operations by unveiling SovereignAI — a new subsidiary focusing on artificial intelligence and blockchain technology. The Nasdaq-listed shipowner and operator OceanPal Inc. confirmed it had raised $120 million through a private investment in public equity (PIPE) financing to establish SovereignAI, which will commercialize the NEAR Protocol and build confidential AI-cloud computing systems powered by NVIDIA technology. In partnership with the NEAR Foundation, SovereignAI aims to develop blockchain-native digital infrastructure designed for “universal AI sovereignty,” a framework that enables AI systems to operate securely and autonomously across decentralized networks. As part of its strategic roadmap, the venture plans to acquire up to 10% of NEAR’s token supply, reflecting a broader diversification of OceanPal Inc.’s treasury management into digital assets and AI infrastructure.The funds raised through the PIPE transaction will be used to support infrastructure deployment, token accumulation, and working capital for the project. According to Athens-based and New York-listed shipowner and operator OceanPal Inc., SovereignAI represents an evolution in how listed shipping enterprises manage capital and engage with technological change — moving from passive investment portfolios to direct involvement in next-generation decentralized ecosystems. “This is a public company taking an active, strategic role alongside the NEAR Foundation to promote a shared vision of universal AI sovereignty,” said Sal Ternullo, co-CEO of Athens-based and New York-listed shipowner and operator OceanPal Inc. and former State Street executive. “We intend to use decentralized and confidential computing infrastructure to address the growing global demand for privacy-first, regulatory-compliant AI across industries such as finance, healthcare, and media.”Joining Sal Ternullo is David Schwed as Chief Operating Officer, who previously served as Chief Information Security Officer at Robinhood. “Our strategy extends far beyond treasury management,” said David Schwed. “We are building the technical and financial foundation for privacy-preserving, user-controlled AI that can operate securely at scale.” The advisory board of SovereignAI will be chaired by Illia Polosukhin, Chief Executive Officer and co-founder of the NEAR Foundation, and will include advisors from OpenAI, Fabric Ventures, and Quicknode. The initiative also attracted strong participation from prominent crypto investors such as Kraken, Fabric Ventures, G20 Group, and Proximity. OceanPal Inc., headquartered in Athens and listed on the Nasdaq, was spun off from Diana Shipping Inc. (DSX) in 2021 under the leadership of Semiramis Paliou to create a more flexible, market-responsive shipping entity. While Diana Shipping Inc. (DSX) remains focused on long-term charter contracts with blue-chip charterers, OceanPal Inc. was established to operate a leaner business model centered on short-term and spot market exposure, enabling it to capitalize quickly on freight rate volatility across the dry bulk segments. OceanPal Inc.’s fleet comprises mainly panamax, capesize, and handymax bulk carriers, trading worldwide in coal, grain, and minor bulk cargoes. Over the years, Athens-based and New York-listed shipowner and operator OceanPal Inc. has built a reputation for prudent capital management, operational excellence, and adaptability to rapidly shifting market conditions. The decision to invest in SovereignAI marks a groundbreaking evolution for the shipowner — bridging the gap between the traditional shipping economy and digital innovation. By combining shipping asset management with high-technology investment, OceanPal Inc. aims to strengthen long-term shareholder value and hedge against cyclicality in the freight markets. OceanPal Inc. stated that it will continue operating its dry bulk and product tanker fleet under its existing commercial management while developing SovereignAI as a separate innovation arm dedicated to artificial intelligence, blockchain systems, and next-generation digital infrastructure. 30-October-2025
Athens-based and Nasdaq-listed shipowner and operator Diana Shipping Inc. (DSX), under the leadership of Chief Executive Officer Semiramis Paliou, has strengthened its charter portfolio with the conclusion of two lucrative time charter contracts at improved rates, extending its market coverage well into 2027. This move underscores Diana Shipping Inc. (DSX)’s disciplined commercial strategy and its ability to capture rising earnings amid firmer freight conditions in the dry bulk sector. Greek shipowner and operator Diana Shipping Inc. (DSX) announced that it has sealed a direct continuation for the 2007-built capesize bulk carrier MV Semirio with Solebay Shipping. The renewed charter, scheduled to commence in March 2026, was fixed at a robust daily rate of $21,650—an impressive increase from the vessel’s current rate of $16,650 per day. The employment will cover a window between January and April 2027, ensuring continuous revenue visibility for Diana Shipping Inc. (DSX). In a separate transaction, Nasdaq-listed shipowner and operator Diana Shipping Inc. (DSX) also concluded a new time charter for the 2013-built panamax bulk carrier MV Maera with Singapore-based ship operator CRC Shipping Pte Ltd. The charter will begin in November 2025 for a minimum duration of 13 months at a rate of $11,750 per day, compared to the current rate of $8,400 per day with China Resource Chartering. The two fixtures combined are estimated to generate around $10.9 million in gross revenue across their respective minimum charter terms, bolstering Diana Shipping Inc. (DSX)’s stable earnings base while maintaining its focus on long-term value creation for shareholders. The latest deals follow a series of well-timed charter renewals by Diana Shipping Inc. (DSX), which has steadily capitalised on improving bulk carrier market dynamics throughout 2025. The Athens-based shipowner and operator Diana Shipping Inc. (DSX), one of Greece’s most established names in the dry bulk sector, presently manages a fleet of 36 bulk carriers, comprising capesize, newcastlemax, post-panamax, kamsarmax, and ultramax units, with a combined carrying capacity exceeding 4.3 million DWT. The diversified fleet allows Diana Shipping Inc. (DSX) to maintain flexibility across various trade routes and cargo segments, ensuring resilience in volatile market cycles. Under the guidance of Chief Executive Officer Semiramis Paliou, who succeeded her father Simeon Palios, the founding chairman and one of the most influential figures in Greek shipping, Diana Shipping Inc. (DSX) has adopted a strategy focused on operational excellence, environmental compliance, and prudent financial management. The shipowner has consistently prioritised maintaining a modern and efficient fleet through regular vessel upgrades, technological retrofits, and eco-optimisation projects. Many of its bulk carriers have been fitted with energy-saving devices such as propeller boss cap fins and Mewis ducts, as well as ballast water treatment systems and low-friction hull coatings, ensuring full compliance with the latest International Maritime Organization (IMO) regulations and the upcoming Carbon Intensity Indicator (CII) performance requirements. Since its founding in 1999, Diana Shipping Inc. (DSX) has built an enduring reputation for reliability and professionalism, earning the trust of top-tier charterers including Cargill, SwissMarine, Solebay Shipping, and BHP. The shipowner’s listing on the Nasdaq Stock Exchange in 2005 provided it with access to international capital markets, enabling disciplined fleet expansion and long-term balance sheet strength. Even during market downturns, Diana Shipping Inc. (DSX) maintained a conservative approach, avoiding excessive leverage and preserving liquidity—an approach that has enabled it to take advantage of cyclical opportunities in the dry bulk market. In addition to its core dry bulk activities, Diana Shipping Inc. (DSX) has extended its presence in maritime services through strategic investments in ship management, environmental solutions, and logistics operations. Its technical management arm, Diana Wilhelmsen Management Limited (DWM), a joint venture with Wilhelmsen Ship Management, provides world-class technical and crewing services to its fleet, ensuring safety, regulatory compliance, and operational efficiency. Furthermore, the shipowner continues to explore digital solutions for performance monitoring and predictive maintenance, leveraging data analytics to enhance fuel optimisation and reduce emissions. In 2024, Diana Shipping Inc. (DSX) also achieved recognition for its corporate governance and ESG transparency, reinforcing its reputation as one of the most responsibly managed publicly traded Greek shipping firms. The latest charters with Solebay Shipping and CRC Shipping Pte Ltd reaffirm Diana Shipping Inc. (DSX)’s long-standing philosophy of securing predictable cash flows while maintaining exposure to market upside. They also reflect the growing confidence of global charterers in Diana Shipping Inc. (DSX)’s fleet reliability, commercial acumen, and environmental commitment. With a modern, well-diversified fleet, a seasoned management team, and a strong balance sheet, Diana Shipping Inc. (DSX) remains firmly positioned to capitalise on emerging opportunities in the evolving dry bulk market, continuing its legacy as one of Greece’s most resilient and forward-looking shipping institutions. 23-October-2025
Athens-based and Nasdaq-listed shipowner and operator Diana Shipping Inc. (DSX), under the leadership of Chief Executive Officer Semiramis Paliou, has taken another significant step in strengthening its financial base by securing a $55 million six-year secured term loan facility from the National Bank of Greece. The deal, which was formally executed on 29 September 2025, provided for the full amount of the loan to be drawn down immediately, with maturity set for September 2031. The financing is backed by five bulk carriers in the fleet of Diana Shipping Inc. (DSX), underscoring the company’s ability to leverage its asset portfolio to pursue further strategic and operational flexibility. According to Ioannis Zafirakis, who serves as director, co-chief financial officer, chief strategy officer, treasurer, and secretary of Diana Shipping Inc. (DSX): “Through this strategic transaction, the company reaffirms its commitment to optimising its capital structure while enhancing its operational and investing flexibility.” This announcement is one of several recent developments that highlight how Diana Shipping Inc. (DSX) continues to evolve as a major force within the international dry bulk shipping industry. Founded in 1999 and headquartered in Athens, Greece, Diana Shipping Inc. (DSX) has become a well-recognized and respected name in global maritime transportation. The company specializes in owning and operating a modern fleet of dry bulk carriers, with tonnage spread across various segments including newcastlemax, capesize, post-panamax, kamsarmax, and ultramax bulk carriers. This diverse fleet structure allows Diana Shipping Inc. (DSX) to serve a wide range of cargo types such as iron ore, coal, grain, and other bulk commodities that are essential to the functioning of international trade. Over the years, the company has built long-term relationships with leading charterers worldwide, including commodity producers, traders, and industrial groups. Earlier this week, Diana Shipping Inc. (DSX) revealed that it had significantly increased its investment in fellow Nasdaq-listed dry bulk shipowner and operator Genco Shipping & Trading (GNK), expanding its shareholding to nearly 15% and thereby becoming the largest known shareholder in Genco Shipping & Trading (GNK). According to regulatory filings, the Semiramis Paliou-led Diana Shipping Inc. (DSX) spent approximately $103.5 million between late April and the end of September 2025 to acquire 6.41 million shares in Genco Shipping & Trading (GNK), ultimately securing a 14.93% equity position. This bold investment move demonstrates the willingness of Diana Shipping Inc. (DSX) to diversify its strategic footprint in the dry bulk sector by investing in peer shipowners, thereby giving the company enhanced influence within the market while also potentially unlocking synergies and opportunities for collaboration. At the same time, Diana Shipping Inc. (DSX) has remained active in the charter market. The shipowner recently concluded a time charter agreement with Swiss-based global agribusiness group Bunge for the employment of the 2015-built ultramax bulk carrier MV DSI Aquila, which has a deadweight tonnage of 60,000. Under the contract, the ultramax bulk carrier MV DSI Aquila will earn a gross charter rate of $14,000 per day for a minimum period lasting until 25 February 2027 and up to a maximum duration extending to 25 April 2027. The employment will begin on 12 October 2025, with the contract anticipated to generate roughly $7.15 million in gross revenue for the minimum charter term. This deal underscores the company’s ability to secure stable income streams from reputable counterparties even as freight markets remain volatile. Diana Shipping Inc. (DSX) has long been recognized not only for the scale of its operations but also for its strong corporate governance, strategic foresight, and financial discipline. Under the stewardship of Semiramis Paliou, who took over as CEO in 2021, the company has placed an increased emphasis on long-term sustainability, environmental responsibility, and fleet modernization. Diana Shipping Inc. (DSX) has explored opportunities to optimize its fleet through a combination of selective acquisitions, divestments, and chartering strategies, always maintaining a balance between risk management and value creation. The company has also actively engaged with broader industry efforts to reduce carbon emissions and prepare for upcoming environmental regulations, including IMO decarbonization targets, positioning itself as a forward-thinking shipowner in an industry undergoing rapid transformation. Today, Diana Shipping Inc. (DSX) operates one of the largest publicly traded pure-play dry bulk fleets, comprising dozens of modern bulk carriers with an average age that provides a competitive mix of efficiency and earning potential. Its shares are traded on Nasdaq, offering global investors exposure to the dry bulk market. The company has consistently emphasized transparency and reliability in reporting, which has made it a trusted entity in both shipping and capital markets. Through its strategic financial moves, chartering arrangements, and investment initiatives, Diana Shipping Inc. (DSX) continues to expand its global footprint, reinforce its market position, and demonstrate resilience in the face of fluctuating freight cycles. The recent loan facility, increased stake in Genco Shipping & Trading (GNK), and charter deal with Bunge together illustrate the multi-pronged strategy of Diana Shipping Inc. (DSX)—balancing financial prudence, fleet deployment, and equity investment. With these steps, Diana Shipping Inc. (DSX) is not only reaffirming its legacy as one of Greece’s most prominent shipping enterprises but is also charting a course for sustained growth and leadership in the international dry bulk shipping sector. 3-October-2025
Nasdaq-listed shipowner and operator Diana Shipping Inc. (DSX) has achieved a strong price for the latest sale of one of its ultramax bulk carriers, further demonstrating its ability to extract firm valuations from the S&P (Sale and Purchase) market. Athens-based and Nasdaq-listed shipowner and operator Diana Shipping Inc. (DSX), led by CEO Semiramis Paliou, disclosed that it has sold an ultramax bulk carrier in which it holds a partial ownership stake at a robust price. The 2016-built scrubber-fitted ultramax bulk carrier 63K DWT MV DSI Drammen has been sold for $26.5 million, according to a statement by Diana Shipping Inc. (DSX), though the buyer’s identity has not been revealed. Diana Shipping Inc. (DSX) holds a 25% interest in the limited partnership that owns the ship, while the remaining 75% interest belongs to the Norwegian entity Ecobulk. Greek shipowner and operator Diana Shipping Inc. (DSX) currently commands a fleet of 36 dry bulk carriers, ranging in size from newcastlemax to ultramax bulk carriers, with a total carrying capacity exceeding 4.1 million DWT. Established in 1999 and headquartered in Athens, Diana Shipping Inc. (DSX) has built its reputation as a leading dry bulk shipowner with a conservative management style and a focus on long-term time charters that provide stable cash flows and reduce exposure to market volatility. Over the years, Diana Shipping Inc. (DSX) has consistently pursued a strategy of maintaining a diversified fleet profile, including newcastlemax, capesize, post-panamax, kamsarmax, and ultramax bulk carriers, enabling it to serve a wide variety of global trade routes and commodities such as iron ore, coal, grain, and other dry bulk cargoes. Under the leadership of CEO Semiramis Paliou, Diana Shipping Inc. (DSX) has further emphasized environmental responsibility and fleet renewal, ensuring compliance with IMO regulations through investments in scrubber-fitted ships and fuel-efficient designs. The recent sale of MV DSI Drammen underscores Diana Shipping Inc.’s (DSX’s) disciplined asset management approach, balancing long-term charter commitments with opportunistic divestments that maximize shareholder value. 19-September-2025
Greek-Norwegian ultramax bulk carrier sale underscores strengthening asset values as firm freight markets continue to support midsize bulk carriers. The transaction involves an ultramax bulk carrier co-owned by Athens-based and Nasdaq-listed shipowner and operator Diana Shipping Inc. (DSX), which is led by CEO Semiramis Paliou, and highlights the growing earnings potential in the ultramax segment. Semiramis Paliou of Diana Shipping Inc. (DSX), which holds a 25% ownership stake in the bulk carrier being divested, has overseen the company’s careful approach to fleet management and strategic positioning in the dry bulk market. The 2016-built ultramax bulk carrier, in which Diana Shipping Inc. (DSX) maintains a minority interest, is set to change hands at a level that indicates a firm recovery in values for ships of this age and size. Specifically, the 2016-built scrubber-fitted ultramax bulk carrier 63K DWT MV DSI Drammen has been committed for sale at approximately $26.5 million, reflecting both the strong demand for modern eco-type ships and the positive outlook for freight earnings. Founded in 1999 and headquartered in Athens, Greece, Diana Shipping Inc. (DSX) has established itself as one of the leading global shipowners and operators specializing in dry bulk cargo transportation. The Nasdaq-listed shipowner and operator Diana Shipping Inc. (DSX) manages a fleet composed of capesize, post-panamax, kamsarmax, and ultramax bulk carriers, serving a wide range of charterers around the world. Over the years, Diana Shipping Inc. (DSX) has built a reputation for maintaining high-quality ships, strong relationships with leading charterers, and a focus on long-term employment contracts that provide stable cash flows even during volatile market cycles. Under the leadership of Semiramis Paliou, Diana Shipping Inc. (DSX) has placed a growing emphasis on fleet renewal and environmental compliance, investing in modern, fuel-efficient bulk carriers equipped with features such as scrubbers and eco-friendly designs. The sale of MV DSI Drammen, although representing only a minority interest for Diana Shipping Inc. (DSX), fits within the broader industry trend of asset appreciation driven by rising demand for midsize ships and limited newbuilding supply. Diana Shipping Inc. (DSX) continues to pursue a strategy of strengthening its balance sheet, optimizing fleet composition, and positioning itself to capture opportunities in the evolving dry bulk sector. With its global presence, strong market reputation, and disciplined management, Diana Shipping Inc. (DSX) remains a significant force in international shipping, committed to delivering long-term value to its shareholders while adapting to the industry’s decarbonisation and modernization requirements. 17-September-2025
Athens-based and New York-listed shipowner and operator OceanPal Inc., a dry bulk shipping company and subsidiary of Diana Shipping Inc. (DSX) led by Semiramis Paliou, is carrying out its third reverse stock split in as many years in order to safeguard its Nasdaq listing. Diana Shipping Inc. (DSX) spin-off OceanPal Inc. confirmed that every 25 shares will be consolidated into one to lift the share price above the required threshold. Greek shipowner and operator OceanPal Inc. is once again reducing the total number of outstanding shares as part of efforts to stay compliant with Nasdaq regulations. Athens-based and New York-listed shipowner and operator Diana Shipping Inc. (DSX) tanker and bulker spin-off OceanPal Inc. will execute the one-for-25 reverse stock split on the Nasdaq Exchange in New York on Monday, cutting the total number of outstanding shares from 167.4 million to just 6.7 million. This marks the third such action in recent years, after a one-for-10 reverse split in 2022 and a one-for-20 reverse split in 2024. Robert Perri-led shipowner and operator OceanPal Inc. closed at 0.08 dollars per share on Thursday, a 21% drop and well below the Nasdaq Exchange’s minimum 1 dollar requirement. Following the reverse stock split, the adjusted price would be approximately 2 dollars per share. Earlier this year, Greek shipowner and operator OceanPal Inc.’s shares had dipped below 1 dollar in March, recovered to nearly 3 dollars in June, but then collapsed again in July after the announcement of a follow-on issue of nearly 11 million shares priced at 1.64 dollars per unit, equal to the prevailing market price. That offering, which combined each share with one warrant as is standard in such deals, generated 18 million dollars in net proceeds for OceanPal Inc. Athens-based shipowner and operator OceanPal Inc. is considered one of the smaller publicly listed US shipping entities that emerged under the backing of investment bank Maxim Group. Many shipping companies brought public through investment bank Maxim Group have faced criticism for highly dilutive equity offerings that eroded share prices and angered shareholders. OceanPal Inc. recently reported another loss for the first half of 2025 as charter revenues plunged. The shipowner and operator recorded a net loss of 10.4 million dollars, with revenues falling to 6.2 million dollars. Average daily charter rates during the six months to 30 June 2025 were just 6,832 dollars, barely above the reported operating expenses of 6,747 dollars per day. At that time, OceanPal Inc.’s fleet consisted of one capesize bulk carrier, three panamax bulk carriers, and one MR2 tanker. The Robert Perri-led shipowner and operator OceanPal Inc. was spun off from New York-listed Diana Shipping Inc. (DSX) in 2021. 22-August-2025
Athens-based and New York-listed shipowner and operator OceanPal Inc., a dry bulk shipping company and subsidiary of Diana Shipping Inc. (DSX) led by Semiramis Paliou, is carrying out its third reverse stock split in as many years in order to safeguard its Nasdaq listing. Diana Shipping Inc. (DSX) spin-off OceanPal Inc. confirmed that every 25 shares will be consolidated into one to lift the share price above the required threshold. Greek shipowner and operator OceanPal Inc. is once again reducing the total number of outstanding shares as part of efforts to stay compliant with Nasdaq regulations. Athens-based and New York-listed shipowner and operator Diana Shipping Inc. (DSX) tanker and bulker spin-off OceanPal Inc. will execute the one-for-25 reverse stock split on the Nasdaq Exchange in New York on Monday, cutting the total number of outstanding shares from 167.4 million to just 6.7 million. This marks the third such action in recent years, after a one-for-10 reverse split in 2022 and a one-for-20 reverse split in 2024. Robert Perri-led shipowner and operator OceanPal Inc. closed at $0.08 per share on Thursday, a 21% drop and well below the Nasdaq Exchange’s minimum $1 requirement. Following the reverse stock split, the adjusted price would be approximately $2 per share. Earlier this year, Greek shipowner and operator OceanPal Inc.’s shares had dipped below $1 in March, recovered to nearly $3 in June, but then collapsed again in July after the announcement of a follow-on issue of nearly 11 million shares priced at $1.64 per unit, equal to the prevailing market price. That offering, which combined each share with one warrant as is standard in such deals, generated $18 million in net proceeds for OceanPal Inc. Athens-based shipowner and operator OceanPal Inc. is considered one of the smaller publicly listed US shipping entities that emerged under the backing of investment bank Maxim Group. Many shipping companies brought public through investment bank Maxim Group have faced criticism for highly dilutive equity offerings that eroded share prices and angered shareholders. OceanPal Inc. recently reported another loss for the first half of 2025 as charter revenues plunged. The shipowner and operator recorded a net loss of $10.4 million, with revenues falling to $6.2 million. Average daily charter rates during the six months to 30 June 2025 were just $6,832, barely above the reported operating expenses of $6,747 per day. At that time, OceanPal Inc.’s fleet consisted of one capesize bulk carrier, three panamax bulk carriers, and one MR2 tanker. The Robert Perri-led shipowner and operator OceanPal Inc. was spun off from New York-listed Diana Shipping Inc. (DSX) in 2021.
Athens-based and Nasdaq-listed shipowner and operator Diana Shipping Inc. (DSX), under the leadership of CEO Semiramis Paliou, has secured new employment for its 2013-built kamsarmax bulk carrier MV 81K DWT MV Astarte by chartering it out to Singapore and Athens-based ship operator Propel Shipping Pte Ltd at a reduced daily rate of approximately $12,500 compared to its previous fixture, with the new time charter commencing on August 2, 2025, and running through at least 16 August 2026, with an optional extension to 16 October 2026, generating about $4.68m in revenue for Athens-based and Nasdaq-listed shipowner and operator Diana Shipping Inc. (DSX) over the firm period; Propel Shipping Pte Ltd, the charterer, is a global freight trading and dry bulk ship operating entity headquartered in Singapore, with operational offices in Dubai, Greece, and India, and functions as the chartering and operating division of ACT Group, a major Indian shipping and logistics conglomerate founded in 1982, offering a range of services including stevedoring, warehousing, ship agency, customs broking, ship-broking, and transportation with a staff of over 400 across Indian ports, while managing a diversified cargo portfolio that exceeds 20 million metric tons annually for major industrial clients across sectors such as steel, cement, power, fertilizer, and mining, and also provides commercial ship management for close shipowners, leveraging its market presence and operational know-how to consistently outperform market benchmarks; Athens-based and Nasdaq-listed shipowner and operator Diana Shipping Inc. (DSX), founded in 1999, specializes in the ownership and operation of dry bulk ships with a focus on long-term time charters and maintains a fleet of 36 ships comprised of newcastlemax, capesize, post-panamax, kamsarmax, and ultramax bulk carriers, transporting a range of major and minor bulk commodities including iron ore, coal, grain, and fertilizers, and is known for its conservative financial strategy, operational efficiency, and focus on shareholder value through strategic fleet renewal and active chartering practices; the latest fixture with Propel Shipping Pte Ltd follows the vessel’s prior employment in 2024 with Singapore-based shipowner and operator Paralos Shipping Pte. Ltd., during which the kamsarmax bulk carrier MV Astarte earned a daily rate of $14,000, underscoring the current softer rate environment. 29-July-2025
Athens-based and Nasdaq-listed shipowner and operator Diana Shipping Inc. (DSX), led by CEO Semiramis Paliou, has entered into a time charter agreement with dry bulk shipping heavyweight Cargill Ocean Transportation Pte Ltd, the Singapore-based maritime logistics arm of Cargill, for the 2017-built ultramax bulk carrier MV DSI Phoenix, with the charter set to commence on August 3, 2025, for a duration ranging from a minimum of October 1, 2026, to a maximum of November 30, 2026, at a daily rate of $13,500, with Diana Shipping Inc. (DSX) estimating approximately $5.6m in revenue over the minimum term of the charter. This latest fixture with Cargill Ocean Transportation Pte Ltd follows the conclusion of the MV DSI Phoenix’s previous contract with Bulk Trading, which had been fixed at a higher daily rate of $16,500. Additionally, Cargill Ocean Transportation Pte Ltd recently chartered the ultramax bulk carrier MV DSI Polaris, also owned and operated by Diana Shipping Inc. (DSX), at a daily rate of $12,500, with the contract running through July 21, 2025. Diana Shipping Inc. (DSX), established in 1999 and headquartered in Athens, is a prominent global shipowner specializing in the ownership and long-term chartering of dry bulk ships. The company’s fleet consists of a mix of ultramax, kamsarmax, post-panamax, panamax, and capesize bulk carriers, and is focused on the transportation of a range of dry bulk commodities such as iron ore, coal, grain, and other materials. With a strategy centered on securing long-term time charters with reputable counterparties, Diana Shipping Inc. (DSX) aims to provide stable cash flow and operational reliability, while maintaining a modern and environmentally efficient fleet. 28-July-2025
Athens-based and Nasdaq-listed shipowner and operator Diana Shipping Inc. (DSX) has entered into a time charter contract with Bohai Ocean Shipping (Singapore) Holding Pte. Ltd. (BOSS) for the 2017-built, 208,000 DWT newcastlemax bulk carrier MV Newport News, at a gross charter rate of $25,000 per day for a period commencing on June 14, 2025, and extending to a minimum of September 1, 2026, up to a maximum of October 31, 2026, amounting to approximately $10.95 million for the minimum scheduled period. This new rate exceeds the current charter with Japanese shipowner NYK Bulk (Nippon Yusen Kabushiki Kaisha), under which the ship is earning $20,000 per day. Bohai Ocean Shipping (Singapore) Holding Pte. Ltd. (BOSS) is a wholly owned subsidiary of Bohai Ocean (Hebei) Transportation Co., Ltd., which was established in December 2022 as part of a strategic shipping development initiative jointly funded by Hebei Communications Investment Group, Hebei Port Group, Hebei Construction Group, and Hebei Iron and Steel Group, with Hebei Transportation Investment Group holding a 70% stake and the remaining three groups sharing the other 30%, supported by a registered capital of 900 million CNY. BOSS was founded in August 2023 to enable international expansion, enhance fleet development, and improve customer service capabilities, and it operates independently from Singapore with a core mission to build a modern, environmentally sustainable, and globally competitive dry bulk fleet. The company’s strategic positioning in Singapore allows it to access global shipping markets more effectively while supporting China’s broader logistics and resource transport objectives. Currently, Diana Shipping Inc., led by CEO Semiramis Paliou, operates a fleet of 37 dry bulk carriers, consisting of 4 newcastlemax, 8 capesize, 4 post-panamax, 6 kamsarmax, 6 panamax, and 9 ultramax bulk carriers, and is expected to take delivery of two methanol dual-fuel newbuilding kamsarmax bulk carriers in Q4 2027 and Q1 2028, respectively. 3-June-2025
Athens-based and New York-listed shipowner and operator OceanPal Inc., a dry bulk shipping company and subsidiary of Diana Shipping Inc. (DSX) led by Semiramis Paliou, has entered into an agreement to sell its oldest ship, the 2004-built, 73,000 DWT panamax bulk carrier MV Protefs, for approximately $7 million, with the Jiangnan Shanghai Changxing-built vessel expected to be delivered to its new owners by June 17, 2025; this move follows the company’s strategic exit from the capesize segment earlier in Q1 2025 through the sale of the 2005-built, 171,000 DWT capesize bulk carrier MV Salt Lake City for around $16 million. Founded to operate and manage a fleet of dry bulk carriers and capitalize on short- to medium-term market opportunities, OceanPal Inc. primarily focuses on time chartering its vessels and optimizing earnings through market-driven employment strategies. Headquartered in Athens and listed on the Nasdaq Capital Market, the company’s business model is centered on maintaining a lean, versatile fleet of mid-size bulk carriers suitable for global trade routes. Following the completion of the MV Protefs sale, OceanPal Inc. will own two 2005-built panamax bulk carriers and one 2009-built MR2 tanker, reflecting a continued shift toward fleet optimization and enhanced operational efficiency under the leadership of Semiramis Paliou. 3-June-2025
Athens-based and Nasdaq-listed shipowner and operator Diana Shipping Inc. (DSX) has signed a time charter agreement with China Resource Chartering for one of its panamax bulk carriers. China Resource Chartering has chartered the 2013-built panamax bulk carrier 77K DWT MV Ismene at a daily rate of $11,000 for a duration extending from a minimum of March 20, 2026, to a maximum of May 20, 2026. The time charter for panamax bulk carrier MV Ismene is expected to commence on 26 April 2025. For the minimum committed charter period, China Resource Chartering is set to pay an estimated $3.54 million. As of now, Athens-based and Nasdaq-listed shipowner and operator Diana Shipping Inc. (DSX) operates a fleet of 37 dry bulk carriers, comprising 4 newcastlemax bulk carriers, 8 capesize bulk carriers, 4 post-panamax bulk carriers, 6 kamsarmax bulk carriers, 6 panamax bulk carriers, and 9 ultramax bulk carriers. The fleet is overseen by shipowner and operator Diana Shipping Inc. (DSX) under the leadership of Chief Executive Officer Semiramis Paliou. Additionally, Diana Shipping Inc. (DSX) is scheduled to take delivery of two methanol dual-fuel newbuilding kamsarmax bulk carriers, expected to join the fleet by Q4 2027 and Q1 2028, respectively. 15-April-2025
CEO Semiramis Paliou is steadfast in her commitment to the bulker strategy as the Athens-based and Nasdaq-listed shipowner and operator Diana Shipping Inc. (DSX) prepares to celebrate its 20th anniversary as a NYSE-listed company. On Tuesday, April 1st, 2025, Ms. Semiramis Paliou, along with the executive team, will ring the Closing Bell at the NYSE. Diana Shipping Inc. (DSX) CEO Ms. Semiramis Paliou expressed, “It is a privilege to commemorate 20 years as a listed company, and we deeply appreciate the ongoing support from our shareholders and partners throughout this time. This milestone is not merely about marking two decades on the New York Stock Exchange; it’s a celebration of continuous advancement, enduring partnerships, and mutual trust. Since our debut on the exchange, we have solidified our leadership in the dry bulk shipping industry, and we look forward to further enhancing this legacy as we move forward into future growth.” 4-April-2025
CEO Semiramis Paliou remains dedicated to the bulker strategy as Athens-based and Nasdaq-listed shipowner and operator Diana Shipping Inc. (DSX) marks its IPO anniversary. This milestone arrives while the Greek shipowner and operator Diana Shipping Inc. (DSX) explores new markets, even as its shares experience downward pressure. Diana Shipping Inc. (DSX) CEO Semiramis Paliou reaffirmed her commitment to the company’s strategy focusing on dry bulk shipping and period-charter operations during its 20th anniversary as a publicly listed company in the U.S. On Tuesday, Diana Shipping Inc. (DSX) CEO Semiramis Paliou rang the bell at the New York Stock Exchange, signifying a period when the company is venturing into new markets and its stock prices are near their lowest in four years. 2-April-2025
Athens-based and Nasdaq-listed shipowner and operator Diana Shipping Inc. (DSX) has expanded into the gas shipping sector through an investment in a newly formed joint venture focused on constructing two 7,500 cubic meter LPG carriers. Led by Semiramis Paliou, Greek shipowner and operator Diana Shipping Inc. (DSX) has acquired an 80% stake in the joint venture, named Ecogas Holding. The venture plans for the delivery of the two LPG carriers in 2027 and includes an option for two additional LPG carrier newbuilds at an undisclosed shipyard. Diana Shipping Inc. (DSX) has entered into this joint venture with Spanish tanker company Tradewind Tankers. Tradewind Tankers appears in shipbuilding records with two LPG newbuilds scheduled at China Merchants Jinling Shipyard in 2024. This marks Diana Shipping Inc.’s (DSX’s) second diversification initiative since 2023, when it joined the Windward Offshore joint venture to own and operate offshore wind commissioning service operation vessels (CSOVs). The move reflects Diana Shipping Inc.’s (DSX’s) strategy to expand beyond its core dry bulk operations and participate in the evolving maritime energy transition. Founded in 1999, Diana Shipping Inc. (DSX) is a leading global provider of shipping transportation services, specializing primarily in the ownership and bareboat chartering of dry bulk vessels. The company has built a strong reputation in the industry for maintaining a modern and efficient fleet, and it is known for long-term, stable chartering practices with major industrial clients around the world. Diana Shipping Inc. (DSX) is headquartered in Athens, Greece, and its shares are publicly traded on the Nasdaq under the ticker symbol “DSX.” Diana Shipping Inc.’s (DSX’s) current fleet consists of 37 bulk carriers, including newcastlemax, capesize, post-panamax, kamsarmax, and panamax vessels. In addition, the company has two kamsarmax bulk carrier newbuildings scheduled for delivery between 2027 and 2028. With its latest ventures into LPG shipping and offshore wind vessels, Diana Shipping Inc. (DSX) continues to pursue a diversified and forward-looking strategy to adapt to changing industry demands and opportunities. 26-March-2025
Athens-based and New York-listed shipowner and operator OceanPal Inc., a subsidiary of Diana Shipping (DSX) led by Semiramis Paliou, has finalized its departure from the capesize bulk carrier sector. The company sold the 2005-built capesize bulk carrier MV Salt Lake City, which has a deadweight of 171K, for approximately $16 million. This vessel is one of three older bulk carriers that Diana Shipping spun off into OceanPal when the company was founded in 2021. Several shipping brokerage firms have identified Chinese buyers as the new owners of the vessel. The transaction for MV Salt Lake City is set to be completed by February 20, 2025, representing OceanPal Inc.’s exit from its last capesize bulk carrier. Previously in 2024, OceanPal sold another 2005-built capesize, the 177K DWT MV Baltimore, to YKJ Shipping for about $18 million. Presently, OceanPal Inc.’s fleet consists of three panamax bulk carriers and one MR2 tanker. OceanPal Inc. specializes in providing maritime transport services for dry bulk commodities, including grains, coal, and iron ore. The company leverages advanced technology and a robust operational strategy to ensure safe, efficient, and environmentally friendly shipping operations. With a strategic focus on market adaptability and cost efficiency, OceanPal Inc. has cultivated a reputation for reliability and quality service in the global shipping industry. Following its recent strategic divestments, the company aims to optimize its fleet composition and operational focus to better align with the changing dynamics of the maritime trade market. 22-January-2025
Athens-based and Nasdaq-listed shipowner and operator Diana Shipping Inc. (DSX), led by Semiramis Paliou, has secured a time charter agreement with Singapore-based SwissMarine Pte Ltd for one of its capesize bulk carriers. The 2010-built capesize bulk carrier, MV New York, with a deadweight of 177K, has been chartered out to Stone Shipping. The agreed gross charter rate is $17,600 per day, spanning from a minimum of January 15, 2026, to a maximum of March 30, 2026. The charter commenced on January 12. This engagement of the MV New York is expected to generate approximately $6.03 million in gross revenue for the minimum duration of the time charter. Currently, the fleet of Diana Shipping Inc. comprises 38 dry bulk carriers, which include four newcastlemax bulk carriers, eight capesize bulk carriers, five post-panamax bulk carriers, six kamsarmax bulk carriers, six panamax bulk carriers, and nine ultramax bulk carriers. Moreover, Diana Shipping Inc. is set to expand its fleet with the addition of two methanol dual-fuel new-building kamsarmax dry bulk vessels, scheduled for delivery in the second half of 2027 and the first half of 2028, respectively. 12-January-2025
Athens-based and Nasdaq-listed shipowner and operator Diana Shipping Inc. (DSX), under the leadership of Semiramis Paliou, has secured a time charter contract with Fujian-based ship operator China Resource Chartering Ltd for one of its kamsarmax bulk carriers. The agreement involves the 2013-built panamax bulk carrier 75K DWT MV Maera, which has been chartered out for a gross charter rate of $8,400 per day. The charter period extends from December 15, 2024, to a minimum of September 20, 2025, with the possibility of extending up to November 20, 2025. Under the terms of this charter, China Resource Chartering Ltd will pay Diana Shipping Inc. (DSX) approximately $2.31 million for the minimum scheduled duration of the agreement. Currently, the fleet of the Greek shipowner and operator Diana Shipping Inc. (DSX) includes 38 dry bulk carriers. Additionally, Diana Shipping Inc. (DSX) is anticipating the delivery of two methanol dual-fuel new-building kamsarmax dry bulk carriers by the third quarter of 2027 and the first quarter of 2028, respectively. 17-December-2024
Athens-based and Nasdaq-listed shipowner and operator Diana Shipping Inc. (DSX) has successfully negotiated a time charter contract extension for one of its post-panamax bulk carriers with the Antwerp-based shipowner and operator Cobelfret Bulk Carriers CLdN. Diana Shipping Inc. (DSX), known for its strategic fleet management and operational efficiency, extended the charter for its 2012-built post-panamax bulk carrier, 98K DWT MV Amphitrite, with Belgian shipowner and operator Cobelfret Bulk Carriers CLdN. The original agreement for the MV Amphitrite began on November 10, 2022, and was extended early in January 2025. The renewed charter, starting on December 31, 2024, is scheduled to last until at least January 1, 2026, with the possibility of extending to March 15, 2026. Cobelfret Bulk Carriers CLdN will pay Diana Shipping Inc. (DSX) a gross charter rate of $8,750 per day for the first 50 days and $12,100 per day for the remainder of the charter term. In total, Cobelfret Bulk Carriers CLdN will disburse approximately $4.22 million for the minimum scheduled duration of the charter, representing a decrease in the daily rate compared to the previous extension which was $12,250 for the first 30 days and $15,000 thereafter. Diana Shipping Inc. (DSX) operates a significant fleet of 38 dry bulk vessels, which includes a diverse range of sizes: four newcastlemax, eight capesize, five post-panamax, six kamsarmax, six panamax, and nine ultramax bulk carriers. This extensive fleet enables Diana Shipping Inc. (DSX) to offer flexible and comprehensive shipping solutions across different cargo volumes and global trading routes. Furthermore, Diana Shipping Inc. (DSX) is planning for the future with the addition of two methanol dual-fuel new-building kamsarmax dry bulk vessels, expected to be delivered by the second half of 2027 and the first half of 2028, respectively. These additions underscore Diana Shipping Inc. (DSX)’s commitment to environmental stewardship and innovation, aligning with global trends towards sustainable maritime operations. The current combined carrying capacity of the fleet, excluding the two vessels yet to be delivered, stands at approximately 4.2 million dwt with a weighted average age of 11.23 years, reflecting Diana Shipping Inc. (DSX)’s strategy of maintaining a relatively young and technologically advanced fleet to optimize efficiency and reduce environmental impact. Diana Shipping Inc. (DSX) is not only a leader in the provision of diversified global shipping transportation services but is also recognized for its robust financial management and strong corporate governance. Diana Shipping Inc.’s strategic approach to chartering and its agile response to market fluctuations have allowed it to achieve stable revenue streams and maintain competitiveness in the volatile shipping industry. Diana Shipping Inc. (DSX) is also committed to the highest standards of corporate responsibility, focusing on safety, environmental protection, and the well-being of its employees both at sea and ashore. This comprehensive approach to business operations ensures that Diana Shipping Inc. (DSX) remains a respected and responsible leader in the global maritime sector. 24-December-2024
Athens-based and Nasdaq-listed shipowner and operator Diana Shipping Inc. (DSX) has chartered the 2009-built kamsarmax bulk carrier, MV Maia, with a capacity of 82,000 DWT, to Singapore-based ship operator Paralos Shipping Pte Ltd. The charter, under the leadership of Semiramis Paliou at Diana Shipping Inc. (DSX), reflects the ongoing challenges in the dry bulk shipping market. Paralos Shipping Pte Ltd secured the MV Maia kamsarmax bulk carrier amidst a sluggish market environment. The latest one-year period charter, announced on Thursday by the established bulker operator Diana Shipping Inc. (DSX), aligns with the weakening trends currently seen in the dry bulk shipping sector. The MV Maia will be chartered to Paralos Shipping Pte Ltd from 9 December 2024, with a daily rate of $11,600. 6-December-2024
Athens-based and New York-listed shipowner and operator Diana Shipping Inc. (DSX) has recently secured a time charter contract with Swiss-based agribusiness company Bunge for one of its ultramax bulk carriers. The 2016-built, 60K DWT ultramax bulk carrier MV DSI Aquarius has been chartered to Bunge at a daily rate of $13,300 for a period ranging from a minimum of 10 months to a maximum of about 12 months, starting on December 6, 2024. This charter agreement is projected to generate approximately $3.99 million in gross revenue for the minimum scheduled period for Diana Shipping Inc. (DSX), under the leadership of Semiramis Paliou. Diana Shipping Inc. (DSX), a globally recognized leader in the dry bulk shipping industry, operates a substantial fleet that reflects the company’s strategic commitment to diversity and operational efficiency. Currently, the fleet consists of 38 dry bulk carriers, which includes four newcastlemax bulk carriers, eight capesize bulk carriers, five post-panamax bulk carriers, six kamsarmax bulk carriers, six panamax bulk carriers, and nine ultramax bulk carriers. Each vessel is meticulously maintained and equipped with the latest technology to ensure safety, reliability, and efficiency in operations. Beyond its existing fleet, Diana Shipping Inc. (DSX) is also looking towards future advancements in maritime technology and sustainability. Diana Shipping Inc. (DSX) is preparing for the addition of two methanol dual-fuel new-building kamsarmax bulk carriers, which are expected to be delivered in the third quarter of 2027 and the first quarter of 2028, respectively. These vessels represent Diana Shipping’s ongoing commitment to environmental stewardship and its strategy to modernize its fleet with cleaner, more efficient fuel alternatives. Diana Shipping Inc. has built a reputation for its robust chartering strategy that focuses on securing long-term contracts with leading global commodity groups and industrial users. This approach not only stabilizes the company’s earnings but also positions it well to manage the cyclical nature of the shipping industry. The strategic leadership of Semiramis Paliou has been pivotal in steering the company through various market cycles by leveraging her deep industry knowledge and innovative approach to fleet management and capital allocation. Diana Shipping Inc.’s (DSX’s) proactive management strategies, combined with a strong emphasis on corporate governance and shareholder value, have enabled Diana Shipping Inc. to maintain a strong position in the competitive shipping industry. Additionally, its focus on reducing operational costs and enhancing fleet performance has bolstered its market standing and financial stability. In conclusion, Diana Shipping Inc. (DSX) continues to be a prominent player in the maritime sector, with strategic expansions and a forward-looking approach to technology and sustainability. With its well-established market presence and ongoing investments in fleet expansion and modernization, Diana Shipping Inc. is well-positioned to capitalize on future opportunities in the global shipping industry. 4-December-2024
German-based Reederei F. Laeisz has strategically invested in the dry bulk sector by acquiring a significant share in Athens-based and New York-listed shipowner and operator Diana Shipping Inc. (DSX). Led by Nikolaus Schües, Reederei F. Laeisz has purchased approximately 6.3 million shares of Diana Shipping Inc. (DSX), representing a 5% ownership stake. This investment in Diana Shipping Inc. (DSX), as disclosed in a filing with the US Securities and Exchange Commission (SEC), marks a notable shift towards the bulk carrier segment. This move follows Reederei F. Laeisz’s recent exit from Gram Car Carriers, culminating in a transaction with the liner behemoth Mediterranean Shipping Co (MSC) in the first quarter of 2024. Reederei F. Laeisz, based in Germany, operates a diverse fleet of more than 40 vessels across five different sectors, including car carriers, container ships, and gas carriers. Notably, the company has not participated in the bulk carriers market since 2014. Meanwhile, Diana Shipping Inc. (DSX), also based in Athens and listed in New York, manages a robust fleet of 38 bulk carriers and is expecting the delivery of two methanol dual fuel kamsarmax bulk carrier newbuilds in the fourth quarter of 2027 and the first quarter of 2028. 26-October-2024
Athens-based and New York-listed shipowner and operator Diana Shipping Inc. (DSX) has entered into a refinancing agreement with Danish Ship Finance. This deal provided $80.2m to the Semiramis Paliou-led shipowner and operator Diana Shipping Inc. (DSX) to refinance an existing loan that was originally set to mature in April 2028, secured by nine bulk carriers. The revised seven-year agreement will extend the loan’s maturity to April 2031 and is secured by seven (7) bulk carriers, allowing for the release of two of Diana Shipping’s ships. Additionally, in July 2024, Diana Shipping Inc. (DSX) secured a $167.3m loan from Nordea Bank to refinance its prior commitments. This move underscores the commitment of Diana Shipping Inc. (DSX) to enhance its capital structure and increase operational flexibility. Presently, the Athens-based Diana Shipping Inc. (DSX) manages a fleet of 38 bulk carriers, including two methanol dual fuel kamsarmax bulk carrier newbuilds expected to be delivered in 2027 and 2028. Danish Ship Finance, established in 1961, was acquired by United Arab Emirates (UAE) investor Magellan Capital in Q1 2024. 22-October-2024
Athens-based and New York-listed shipowner and operator Diana Shipping Inc. (DSX) has renewed its time charter agreement with Athens-based ship operator Aquavita International S.A. for the post-panamax dry bulk carrier, the 87K DWT MV Phaidra. The 2013-built vessel has been chartered to Aquavita International S.A. at a daily rate of $12,000, with the contract duration extending from at least May 1, 2025, to a maximum of July 15, 2025. The charter is set to begin on October 11, 2024. Originally, the agreement between Diana Shipping Inc. (DSX) and Aquavita International S.A. was established in 2023 with a charter rate of $12,500 per day. This contract was intended to keep the post-panamax dry bulk carrier MV Phaidra occupied from May 9, 2023, through at least September 1, 2024, and at most until November 15, 2024. This ongoing engagement of the MV Phaidra is expected to produce approximately $2.4 million in gross revenue for the minimum scheduled period of the charter for Diana Shipping Inc. (DSX), led by Semiramis Paliou. Currently, the fleet of Diana Shipping Inc. (DSX) comprises 38 dry bulk carriers. Furthermore, Diana Shipping Inc. (DSX) anticipates the addition of two methanol dual-fuel new-building kamsarmax dry bulk carriers, scheduled for delivery in the third quarter of 2027 and the first quarter of 2028, respectively. 10-October-2024
The Athens-based and New York-listed shipowner and operator, Diana Shipping Inc. (DSX), has recently entered into a time charter contract with Propel Shipping, another Athens-based ship operator. This agreement involves one of Diana Shipping Inc.’s ultramax dry bulk carriers, the 2016-built 60K DWT MV DSI Altair, which has been contracted at $15,750 per day. The charter period is set from a minimum of November 1, 2025, to a maximum of December 31, 2025, with the charter commencing on September 26, 2024. Led by CEO Semiramis Paliou, Diana Shipping Inc. (DSX) is known for its robust portfolio of assets and strategic operations in the global shipping industry, focusing primarily on dry bulk vessels. This new charter agreement is projected to generate approximately $6.24 million in gross revenue for the minimum scheduled period. Prior to this, the MV DSI Altai was chartered to Western Bulk Carrier (WBC), an Oslo-based shipping company, at a daily rate of $13,800. Diana Shipping Inc.’s current fleet underscores its significant presence in the sector, comprising 38 dry bulk carriers. This includes four newcastlemax bulk carriers, eight capesize bulk carriers, five post-panamax bulk carriers, six kamsarmax bulk carriers, six panamax bulk carriers, and nine ultramax bulk carriers. The company’s strategic vision extends to expanding its fleet with innovative technology, highlighted by the upcoming delivery of two methanol dual fuel new-building kamsarmax bulk carriers, expected in Q4 2027 and Q1 2028. Furthermore, Diana Shipping Inc. (DSX) is committed to sustainability and operational efficiency, aiming to minimize environmental impact through the adoption of eco-friendly technologies and practices in their operations. The company’s leadership under Semiramis Paliou has been pivotal in steering its growth and maintaining a competitive edge in the global market. Through strategic partnerships, such as the one with Propel Shipping, and continuous fleet enhancement, Diana Shipping Inc. (DSX) continues to solidify its position as a leader in the maritime industry. 22-September-2024
Singapore-based ship operator Paralos Shipping Pte. Ltd. has recently chartered the 2013-built kamsarmax bulk carrier 81K DWT MV Astarte from Diana Shipping (DSX), an Athens-based, New York-listed shipowner and operator, at a daily rate of $14,000. This charter agreement is scheduled to last from a minimum of July 15, 2025, to a maximum of September 15, 2025. Singapore-based ship operator Paralos Shipping Pte. Ltd. expects to initiate the charter on August 18, 2024, and will pay approximately $4.58 million in total for the minimum scheduled period of the time charter. Paralos Shipping Pte. Ltd. is known for its strategic operations in dry bulk shipping, managing a versatile fleet that is active across global shipping routes. Paralos Shipping Pte. Ltd. specializes in transporting a wide range of bulk commodities essential for basic industries, including grains, coal, and iron ore. This recent charter is part of Paralos Shipping Pte. Ltd.’s ongoing efforts to enhance its operational capacity and maintain flexibility in meeting the logistical demands of its clients. Under the leadership of its experienced management team, Paralos Shipping Pte. Ltd. continues to focus on maximizing operational efficiency and cost-effectiveness, which is crucial in the volatile shipping market. This approach not only supports the Singapore-based ship operator Paralos Shipping Pte. Ltd.’s growth but also strengthens its competitive position in the industry. Meanwhile, Diana Shipping Inc.’s (DSX), led by Semiramis Paliou, fleet consists of 38 dry bulk carriers. This includes 4 newcastlemax, 8 capesize, 5 post-panamax, 6 kamsarmax, 6 panamax, and 9 ultramax bulk carriers, positioning it as a significant player in the maritime shipping sector with a robust presence in the dry bulk market. 14-August-2024
Athens-based and New York-listed shipowner and operator Diana Shipping Inc. (DSX) has recently finalized a new $167 million loan agreement with Nordea. This loan is aimed at refinancing Diana Shipping’s existing financial obligations with the Nordic Bank. Led by Semiramis Paliou, Diana Shipping Inc. (DSX) utilized the proceeds from this loan, secured by 10 of its bulk carriers, to refinance two older loans. These loans, which were secured by 12 bulk carriers, were set to mature in October 2027 and June 2028. This strategic financial maneuver is indicative of Diana Shipping’s commitment to optimizing its capital structure and enhancing its operational flexibility. Currently, Diana Shipping’s fleet includes 40 bulk carriers on a fully-delivered basis. This fleet comprises a capsize bulk carrier that is agreed to be sold and two kamsarmax bulk carrier newbuilds, which are scheduled for delivery by the second quarter of 2027. This recent refinancing underscores Diana Shipping’s proactive financial management and its sustained focus on strengthening its market position in the maritime industry. 29-July-2024
Athens-based and New York-listed shipowner and operator OceanPal Inc., a spinoff from Diana Shipping (DSX) led by Semiramis Paliou, is expanding its maritime operations with a strategic $27 million investment into the product tanker sector. The company has reached an agreement to acquire the 2009 Hyundai Mipo-built MR2 tanker MT Zeze Start from an entity controlled by one of its directors. This transaction received unanimous approval from the Board of Directors of OceanPal Inc. and signifies the company’s strategic decision to diversify and capture emerging opportunities within the product tanker market. This move by the Nasdaq-listed OceanPal Inc.’s Board of Directors to venture into the product tanker sector during this period is viewed as a significant step in the company’s strategy to operate a diversified fleet. This reflects a broader optimism in the product tanker sector, potentially opening new revenue streams and operational dynamics for OceanPal Inc. The MT Zeze Start is expected to be delivered to OceanPal Inc. in the third quarter of 2024. OceanPal Inc. was established in late 2021 following Diana Shipping’s decision to spin off three of its older bulk carriers into the newly formed entity. In August 2023, OceanPal Inc. further diversified by investing in the chemical tanker sector through a stake in the Norwegian entity RFSea Infrastructure II. As it stands, OceanPal Inc. currently manages a fleet of five bulk carriers, reinforcing its growth trajectory and diversification strategy in the maritime industry. 17-July-2024
Athens-based, New York-listed shipowner and operator OceanPal Inc. reported time charter revenues of $5.7 million, a net loss of $1.3 million, and a net loss attributed to common stockholders of $1.7 million for Q1 2024. OceanPal, a spinoff from Diana Shipping (DSX) led by Semiramis Paliou, is a global provider of shipping transportation services through its ownership of vessels. OceanPal Inc.’s ships currently transport a variety of dry bulk cargoes, including commodities such as iron ore, coal, grain, and other materials along worldwide shipping routes. It is expected that OceanPal Inc.’s ships will be primarily employed on short-term time and voyage charters following the completion of their current employments. 8-June-2024
Founder of TMS Group and DryShips Inc, George Economou, has secured a substantial $6.75 million after ceasing his opposition to the board of Athens-based, New York-listed shipowner and operator OceanPal, a spin-off of Diana Shipping. Known as a shareholder and critic of OceanPal, George Economou was compensated for providing strategic advice and covering out-of-pocket expenses. A recently established support agreement between George Economou and the Palios family, who control OceanPal, includes this significant payment. The details of the agreement were disclosed in a document OceanPal submitted to the SEC (Securities and Exchange Commission) on May 20, 2024, which specifies the reimbursement for certain expenses incurred by George Economou. 22-May-2024
The Athens-based, New York-listed shipowner and operator OceanPal has reached an agreement with Greek shipping magnate George Economou, leading to the cessation of his campaign to remove most of the company’s directors. George Economou, who controls a 14.1% stake in Nasdaq-listed OceanPal through his investment vehicle Sphinx, had been advocating for the removal of five out of the seven directors of OceanPal, including chairperson Semiramis Paliou, the daughter of renowned shipping veteran Simeon Palios. In addition to his advocacy, George Economou had nominated former OceanFreight chairman John Liveris and former Ocean Rig board member Georgios Kokkodis for election at OceanPal’s forthcoming annual stockholders’ meeting. However, a recent announcement from OceanPal confirmed that a “support agreement” has been established with George Economou’s Sphinx, resulting in the withdrawal of all previous nominations and proposals, aligning instead with the directors recommended by OceanPal. The agreement also includes a non-binding arrangement for George Economou to consult the board on potential future endeavors. This détente follows George Economou’s strategic investments in the shipping sector, including his initial investment in August 2023 in aframax tanker specialist Performance Shipping and subsequent investment in New York-listed shipowner and operator OceanPal in September 2023. Athens-based, New York-listed shipowner and operator OceanPal’s CEO Robert Perri expressed satisfaction over the resolution, noting, “We value Sphinx’s interest in the company, and I along with the board are eager to explore with Greek shipping tycoon George Economou’s potential opportunities to enhance value for OceanPal’s stockholders.” This agreement marks a shift in George Economou’s approach, as he also ceased his pursuit of New York-listed shipowner and operator Genco Shipping & Trading (GNK) by withdrawing his nomination of Robert Pons for election to Genco’s board and his proposal to repeal Genco Shipping & Trading’s (GNK) bylaws. This development reflects George Economou’s broader involvement in the shipping industry, owning over 100 ships across the dry bulk, tanker, and LNG segments. 20-May-2024
The Athens-based, New York-listed shipowner and operator OceanPal has secured a time charter contract with the Singapore-based shipowner and operator Richland Bulk Pte Ltd for one of its capesize vessels, with an agreement also in place to sell the vessel to Richland Bulk Pte Ltd following the charter’s conclusion. The vessel involved is the 2005-built capesize bulk carrier MV Baltimore, which has a deadweight of 177K and is currently chartered to Richland Bulk Pte Ltd for $13,500 per day. Richland Bulk Pte Ltd has committed to a daily charter rate of $22,000, extending from the current date until at least September 15, 2024, and no later than November 15, 2024. For this period, the total payment for the charter will approximate $2.64 million. The transfer of the MV Baltimore to Richland Bulk Pte Ltd is scheduled for mid-May 2024. Additionally, OceanPal, which is a spinoff from Diana Shipping (DSX) led by Semiramis Paliou, has entered into a memorandum of agreement to sell the MV Baltimore. The sale price for the vessel is set at about $18.5 million and is expected to be finalized by November 20, 2024, at the latest. Following the sale, OceanPal’s fleet will include one capesize bulk carrier and three panamax bulk carriers. 1-May-2024
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) has secured a time charter contract with Bohai Shipping for one of its capesize bulk carriers. The 2013-built capesize bulk carrier, MV P. S. Palios, with a deadweight of 179K DWT, has been chartered to Bohai Shipping at a daily rate of $27,150. The charter period is set to last from at least November 1, 2025, to a maximum of December 31, 2025, with the charter expected to commence on May 12, 2024. This engagement of the MV P. S. Palios is projected to generate approximately $14.39 million in gross revenue for the minimum scheduled duration of the time charter for Diana Shipping Inc. (DSX). Presently, Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) fleet comprises 38 bulk carriers, including 4 newcastlemax, 8 capesize, 5 post panamax, 6 kamsarmax, 6 panamax, and 9 ultramax bulk carriers. Furthermore, Diana Shipping Inc. (DSX) is anticipating the delivery of two methanol dual fuel new-building kamsarmax bulk carriers by the third quarter of 2027 and the second quarter of 2028, respectively. 19-April-2024
The shipowning and operating company Diana Shipping (DSX), headquartered in Athens and listed on the New York Stock Exchange, has finalized a time charter agreement with the Parisian shipowning and operating firm Louis-Dreyfus Armateurs (LDA) for one of its ice-class panamax bulk carriers. The 77,000 DWT ice-class panamax bulk carrier, MV Crystalia, built in 2014, has been chartered to Louis-Dreyfus Armateurs (LDA) at a daily gross charter rate of $13,900. This charter agreement spans a term ranging from a minimum of 21 months to a maximum of 25 months, with the charter of MV Crystalia expected to start in Q2 2024. Led by Semiramis Paliou, Diana Shipping (DSX) anticipates generating roughly $8.7 million in gross revenue from the minimum duration of this time charter. Prior to this, MV Crystalia had been under a charter extension with Reachy Shipping, starting from September 6, 2023, and lasting until at least February 20, 2024, with a potential extension up to April 20, 2024. Following the finalized sales of MV Houston and MV Artemis, Diana Shipping’s (DSX) fleet will be comprised of 38 dry bulk vessels, including four Newcastlemax, eight Capesize, five Post-Panamax, six Kamsarmax, six Panamax, and nine Ultramax bulk carriers. Furthermore, Diana Shipping (DSX) is poised to welcome two methanol dual-fuel Kamsarmax bulk carrier newbuilds by the fourth quarter of 2027. Presently, Diana Shipping’s (DSX) fleet, with the inclusion of MV Houston and MV Artemis – and excluding the two yet-to-be-delivered vessels – boasts a combined carrying capacity of approximately 4.5 million DWT. 5-March-2024
The esteemed Greek shipping magnate, George Economou, has recently escalated his investment in OceanPal, a company with ties to the Palios family, in anticipation of an impending confrontation over board positions. Documents filed with the US Securities and Exchange Commission indicate that George Economou has, through his investment firm Sphinx, acquired an extra 1% share in OceanPal, a spinoff from the Athens-based and New York-listed Diana Shipping (DSX). This acquisition raises his total stake to 12.1%, with OceanPal currently under the leadership of Semiramis Paliou, the progeny of the distinguished shipping expert Simeon Palios. George Economou previously disclosed his intentions to displace the majority of OceanPal’s board, suggesting shareholders should call for their resignation. George Economou has nominated for board positions at the forthcoming annual shareholder meeting, John Liveris and Georgios Kokkodis, both with prior leadership roles at OceanFreight and Ocean Rig. As of yet, OceanPal has not publicized its financial results for the fourth quarter of 2023 or scheduled the annual shareholder meeting, which was held in May the previous year. George Economou’s engagement with OceanPal began in September 2023, investing almost $1.2 million in the Nasdaq-listed entity that owns a fleet comprising three panamax and two capesize bulk carriers, valued at an estimated $63 million. The board of OceanPal, consisting of seven members, is targeted by Economou for a significant overhaul, aiming to replace five members. In a countermove, Chair Semiramis Paliou has increased her ownership in OceanPal to 28.42%, and Anastasios Margaronis, a prominent figure and board member at Diana Shipping (DSX), has also augmented his stake to approximately 7.57%. George Economou initiated his foray into ventures linked to the Palios family in August of the previous year by investing in Performance Shipping, a company specializing in Aframax tankers. This led to a verbal confrontation that escalated, with Economou initially pursuing a board position at Performance Shipping with Liveris as his proposed candidate, followed by his call for the resignation of four incumbent directors, including CEO Andreas Michalopoulos, and ultimately culminating in a cash tender offer aimed at taking control of the US-listed tanker enterprise Performance Shipping. 26-February-2024
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) is in the process of selling its second vessel this year, having reached an agreement with an unidentified buyer for one of its nine capesize bulk carriers. Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) experienced a decline in net income to $9.4 million in the fourth quarter of 2023 and is now transferring the capesize bulk carrier MV Houston, built in 2009, for $23.3 million. Diana Shipping (DSX) announced that the MV Houston, a 177K DWT capesize bulk carrier currently chartered to EGPN Bulk Carrier until between July 1 and August 31 at a daily rate of $13,000, is expected to leave its fleet of 41 bulk carriers by September 2024. Earlier in January 2024, Diana Shipping (DSX) disposed of the MV Artemis, a panamax bulk carrier from 2006, for approximately $13 million, with the exit completed in March 2024. Furthermore, Diana Shipping (DSX) has solidified its agreement for two methanol dual-fuel kamsarmax bulk carrier newbuilds, with deliveries scheduled for 2027 and 2028. Despite the elevated prices for secondhand capesize bulk carriers, shipbrokers have documented the sale of over 50 capesize bulk carriers from October 2023 through February 2024, including more than 20 transactions occurring in 2024. 26-February-2024
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) is growing its offshore orderbook even as profits decline. Athens-based Semiramis Paliou-led shipowner and operator Diana Shipping (DSX), listed in the US and owning roughly 40 large and mid-sized bulk carriers, has reduced its dividend but remains committed to fleet renewal and diversification into future-oriented markets. Recently, Diana Shipping (DSX) has increased its investment in wind farm vessels. Diana Shipping (DSX) announced last Friday that a joint venture it recently became part of has chosen to exercise options, thereby doubling its offshore vessel orderbook to four. Diana Shipping (DSX) entered this venture in October, in collaboration with two German investors and a provider of offshore services. 23-February-2024
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) has recently entered into a fresh time charter deal with Hong Kong-based shipowner and operator Wah Kwong Maritime Transport Holdings Limited for one of its kamsarmax bulk carriers. The bulk carrier in focus, the kamsarmax bulk carrier MV Leonidas P. C., built in 2011 and boasting an 82K DWT capacity, has been secured for a daily gross charter rate of $17,000. This charter is set to run from at least August 20, 2025, to no later than October 20, 2025, beginning on February 21, 2024. Athens-based Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) expects this contract to bring in around $9.2 million in gross earnings throughout the charter’s minimum term. Previously, in March of the preceding year, 82K DWT kamsarmax bulk carrier MV Leonidas P. C. was leased to Cargill at an identical rate. With the latest announcement regarding the sale of the panamax bulk carrier MV Artemis, the fleet New York-listed shipowner and operator Diana Shipping (DSX) will consist of 39 dry bulk carriers. This includes four newcastlemax bulk carriers, nine capesize bulk carriers, five post-panamax bulk carriers, six kamsarmax bulk carriers, six panamax bulk carriers, and nine ultramax bulk carriers. The fleet, including the MV Artemis, has a total carrying capacity of around 4.5 million dwt and an average age of 10.64 years. Furthermore, Athens-based New York-listed shipowner and operator Diana Shipping (DSX) had earlier disclosed a time charter contract with Japanese shipowner Nippon Yusen Kaisha (NYK) for the 206K DWT newcastlemax bulk carrier MV Philadelphia, signaling another noteworthy deal by the company. 11-February-2024
Diana Shipping, an Athens-based and New York-listed shipowner and operator, has secured a time charter agreement with the Japanese shipowner Nippon Yusen Kaisha (NYK) for one of its bulk carriers. The deal involves the 2012-built newcastlemax bulk carrier, MV Philadelphia, which has a deadweight of 206K DWT. It has been chartered at a gross rate of $22,500 per day for a period extending from a minimum of April 20, 2025, to a maximum of July 20, 2025. The charter is set to commence on February 5, 2024. This strategic partnership is expected to yield approximately $9.8 million in gross revenue for Diana Shipping over the minimum duration of the time charter. Following the sale of the MV Artemis, a panamax bulk carrier, Diana Shipping’s fleet, led by Semiramis Paliou, will comprise 39 dry bulk vessels. This includes four newcastlemax bulk carriers, nine capesize bulk carriers, five post-panamax bulk carriers, six kamsarmax bulk carriers, six panamax bulk carriers, and nine ultramax bulk carriers, positioning the company for continued growth and operational success in the global shipping industry. 2-February-2024
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) has recently entered into an agreement to sell one of its older panamax vessels to an undisclosed buyer. The ship in question, the MV Artemis, built in 2006 with a carrying capacity of 76K DWT, is set to be delivered to the new shipowner by no later than March 8, 2024. Athens-based Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) announced that the transaction price for the MV Artemis is approximately $13 million. Following the completion of this sale, the fleet of Diana Shipping (DSX), will comprise 39 dry bulk carriers. This fleet includes four newcastlemax bulk carriers, nine capesize bulk carriers, five post-panamax bulk carriers, six kamsarmax bulk carriers, six panamax bulk carriers, and nine ultramax bulk carriers. Diana Shipping has been notably active in early 2024. The company has secured several charter contracts, including for the 2013-built, 75K DWT panamax bulk carrier MV Maera with Glencore’s ST Shipping and Transport based in Singapore, and for the 2016-built, 60K DWT ultramax bulk carrier MV DSI Aquarius with Stone Shipping. Additionally, Diana Shipping has successfully extended its contract for the 2012-built, 98K DWT post-panamax bulk carrier MV Amphitrite with Cobelfret. These activities reflect the Diana Shipping’s ongoing strategic operations and its efforts to optimize its fleet utilization and revenue. 25-January-2024
Greek shipping tycoon George Economou has significantly increased his stake in OceanPal, an Athens-based and New York-listed shipowning and operating company connected to the Palios family. According to a recent filing with the US Securities and Exchange Commission (SEC), Economou, through his investment entity Sphinx, has purchased an additional 1% of OceanPal, a spinoff from Diana Shipping (DSX). This acquisition boosts Economou’s total ownership in OceanPal to 11.1%. The company is currently chaired by Semiramis Paliou, daughter of the esteemed shipowner Simeon Palios. Economou’s latest move is in line with his previously announced strategy for 2024 to restructure the majority of OceanPal’s board. He has urged the company’s shareholders to seek the resignation of most board members, while also nominating John Liveris, former chairman of OceanFreight, and Georgios Kokkodis, ex-board member of Ocean Rig, for the upcoming annual stockholders’ meeting. Since September 2023, when he began implementing his plan with OceanPal, Economou has invested approximately $1 million in the company. OceanPal, listed on the Nasdaq, owns a fleet comprising three panamax bulk carriers and two capesize bulk carriers, with an estimated collective value of around $60 million. The board of OceanPal consists of seven members, and Economou is looking to replace five of them. In addition to Economou’s efforts, Chair Semiramis Paliou is also solidifying her position, having increased her stake in OceanPal to 27.34%. Ioannis Zafirakis, another director not in Economou’s crosshairs, has upped his ownership to about 4.1%. Concurrently, Anastasios Margaronis, president and board member of Diana Shipping (DSX), has also invested in OceanPal, securing a 6.39% stake in the company. 24-January-2024
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) has recently secured a time charter agreement with Stone Shipping for one of its ultramax bulk carriers. The deal involves the chartering of the 2016-built, 60K DWT MV DSI Aquarius (ex MV STH Kure). The agreed charter rate is $14,500 per day for a period starting from at least December 1, 2024, to a maximum of February 1, 2025. The charter is set to commence on January 19, 2024, and is expected to generate approximately $4.52 million in gross revenue for the minimum duration of the charter. Earlier in January, Diana Shipping had also secured a contract extension for its post-panamax bulker, MV Amphitrite, with Cobelfret. Under the leadership of Semiramis Paliou, Diana Shipping’s fleet currently comprises 40 dry bulk carriers. This includes four newcastlemax, nine capesize, five post-panamax, six kamsarmax, seven panamax, and nine ultramax bulk carriers. 17-January-2023
Greek maritime tycoon George Economou is escalating his conflict with the Palios family by revealing a plan to oust most board members of the dry bulk firm OceanPal, an Athens-based, New York-listed shipowning and operating company. Holding a 10.1% share in Diana Shipping’s (DSX) offshoot OceanPal through his investment entity Sphinx, George Economou is pushing for the removal of five of the seven current board members. His proposal to the US Securities and Exchange Commission (SEC) includes the nomination of two of his own candidates for OceanPal’s forthcoming annual shareholder meeting. This strategy specifically aims at Semiramis Paliou, the daughter of esteemed shipowner Simeon Palios, among four other directors, urging shareholders to call for their resignation. Notably, Nikolaos Veraros and Ioannis Zafirakis are exempt from George Economou’s scheme. He is, however, promoting John Liveris, a former chairman of OceanFreight and ex-board member of Ocean Rig, and Georgios Kokkodis, previously associated with Ocean Rig and Economou’s DryShips, for board positions. This move is a continuation of George Economou’s August 2023 venture into Palios family-associated shipping ventures when he invested in aframax tanker company Performance Shipping. The growing conflict led George Economou to first seek a board seat at Performance Shipping with Liveris as his proposed candidate, then to call for the resignation of four directors including CEO Andreas Michalopoulos, and ultimately to make a cash tender offer to take over the US-listed tanker firm. George Economou’s stake in Athens-based New York-listed shipowner and operator OceanPal, amounting to 9.1% and valued at around $563,000, was disclosed in September 2023, but his intentions were only clarified with the recent SEC filing. As of now, George Economou has invested about $740,000 in Nasdaq Stock Market (Nasdaq)-listed OceanPal, Diana Shipping’s (DSX) new separate sister company, a company with a fleet estimated to be worth approximately $60 million. 15-January-2024
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) has successfully negotiated an extension of its time charter contract for the 2012-built, 98K DWT post-panamax bulk carrier MV Amphitrite. The charter extension agreement is with Antwerp-based shipowner and operator Cobelfret Bulk Carriers CLdN. The original charter for the MV Amphitrite, which began on November 10, 2022, was initially set to secure the MV Amphitrite to Cobelfret Bulk Carriers CLdN until at least December 1, 2023, and at most until February 15, 2024. However, under the terms of the new agreement, the gross charter rate will be $12,250 per day for the first 30 days and then increase to $15,000 per day for the remaining duration of the charter. This extended time charter is scheduled for a period running until at least November 15, 2024, and up to a maximum of January 15, 2025. The new charter period for the 2012-built, 98K DWT post-panamax bulk carrier MV Amphitrite is expected to start on January 12, 2024. The extension is projected to generate approximately $4.46 million in gross revenue for Diana Shipping, based on the minimum scheduled period of the time charter. Currently, Athens-based Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) owns and operates 40 bulk carriers, including four (4) newcastlemax bulk carriers, nine (9) capesize bulk carriers, five (5) post-panamax bulk carriers, six (6) kamsarmax bulk carriers, seven (7) panamax bulk carriers, and nine (9) ultramax bulk carriers. Collectively, these vessels have a combined carrying capacity of about 4.5 million DWT, with the fleet having a weighted average age of 10.55 years. This charter extension reflects Diana Shipping’s (DSX) ongoing commitment to maintaining and optimizing its fleet operations in the global dry bulk shipping market. 10-January-2024
Ecochlor, a Ballast Water Management System expert, has agreed in principle with Greek shipping company Diana Shipping and CCS (Carbon Capture and Storage) expert Sinotech to install a scrubber and CCS (Carbon Capture and Storage) system on Athens-based New York-listed shipowner and operator Diana Shipping (DSX)’s 2014 built capesize bulk carrier 179K DWT MV G.P. Zafirakis. The planned system aims to capture and liquefy 25% of CO2 emissions from the ship’s exhaust. Sinotech will conduct a comprehensive feasibility study, provide engineering services, and oversee the installation, including crew training and assistance in obtaining type approval certification from the ship’s governing body. They will also manage the sustainable removal and disposal of the captured CO2 in China. The installation is slated to occur at a shipyard in China, likely in Zhoushan province. Additionally, the Letter of Intent (LOI) will investigate further business prospects and set the stage for ongoing collaboration beyond this project. Sinotech had previously secured approval in principle for its marine CCS (Carbon Capture and Storage) products from maritime classification societies Lloyd’s Register, Class NK, and Bureau Veritas in early 2022. 20-November-2023
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) has experienced a decline in its quarterly profits during the Q3 2023, primarily due to a reduction in charter revenue. Despite this setback, Semiramis Paliou-led shipowner and operator Diana Shipping’s (DSX) financial results aligned with the expectations of analysts.
Diana Shipping (DSX) reported a net income of $7.4 million for the Q3 2023, which is a significant decrease from the $31.7 million recorded in the Q3 2022. Notably, the portion of this income attributable to common shareholders was even lower, amounting to $5.9 million. This decline in profit reflects the challenges faced by Athens-based New York-listed shipowner and operator Diana Shipping (DSX) in the current market environment, characterized by fluctuations in charter rates and operational costs. Nonetheless, the consistency of the Diana Shipping’s (DSX) performance with market forecasts suggests a level of resilience and adaptability in its business operations. At present, Diana Shipping (DSX), a shipowning and operating company headquartered in Athens and led by Semiramis Paliou, possesses and manages a fleet of 40 bulk carriers. This fleet is composed of a diverse range of vessels, including four Newcastlemax bulk carriers, nine Capesize bulk carriers, five Post-Panamax bulk carriers, six Kamsarmax bulk carriers, seven Panamax bulk carriers, and nine Ultramax bulk carriers. 15-November-2023
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) has signed a term sheet to participate in a joint venture focused on owning and operating offshore wind ships. In the initial phase of this collaboration, the joint venture entity has placed orders for two (2) CSOVs (Commissioning Service Operation Vessels) from the Norwegian shipbuilder VARD, with an option for an additional two (2) offshore wind service ships. Athens-based Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) has formed this partnership with Hamburg-based Blue Star Group, SeaRenergy Offshore Holding, and SeraVerse under the consortium named Windward Offshore. Diana Shipping (DSX) view this investment as another attestation to the company’s commitment for a greener and more sustainable future. Together with Diana Shipping’s (DSX) esteemed partners, Diana Shipping (DSX) embark on an exciting journey that should contribute to a cleaner and more eco-friendly world. However, the completion of this deal is contingent upon the negotiation of definitive documentation related to Athens-based New York-listed shipowner and operator Diana Shipping’s (DSX) involvement in the joint venture and the fulfillment of customary closing conditions. The consortium, led by SeaRenergy owned by Clasen Rickmers, anticipates the delivery of the first CSOV (Commissioning Service Operation Vessel) in the Q2 2025. Battery hybrid CSOV (Commissioning Service Operation Vessel) will be constructed at one of Vard’s shipyards in Romania, with final outfitting, commissioning, and delivery taking place in Norway. Curretly, Athens-based Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) owns and operates 40 bulk carriers, including four (4) newcastlemax bulk carriers, nine (9) capesize bulk carriers, five (5) post-panamax bulk carriers, six (6) kamsarmax bulk carriers, seven (7) panamax bulk carriers, and nine (9) ultramax bulk carriers. 24-October-2023
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) has entered into a MOA (memorandum of agreement) to sell one of its bulk carriers. Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) has agreed to sell its 2007 built built capesize bulk carrier 177K DWT MV Boston for approximately $18 million to an undisclosed third party that is not affiliated with Diana Shipping (DSX). Diana Shipping (DSX) has stated that the delivery of the 2007 built built capesize bulk carrier 177K DWT MV Boston to the buyer will be completed by 20 December 2023, at the latest. Curretly, Athens-based Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) owns and operates 40 bulk carriers, including four (4) newcastlemax bulk carriers, nine (9) capesize bulk carriers, five (5) post-panamax bulk carriers, six (6) kamsarmax bulk carriers, seven (7) panamax bulk carriers, and nine (9) ultramax bulk carriers. 9-October-2023
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) has secured a charter agreement for one of its capsize bulk carriers with Solebay Shipping. Diana Shipping (DSX) chartered out 2011 built capesize bulk carrier 179K DWT MV Seattle at a gross charter rate of $17,500 daily to Beijing-based ship operator Solebay Shipping. Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) mentioned that this contract is a direct extension of a charter that began in February 2022, which had a daily rate of $26,500. The upcoming contract is set to commence on 1 October 2023, and will run at least until 15 July 2025, with a potential extension to 30 September 2025. Diana Shipping (DSX) estimates that the 2011 built capesize bulk carrier 179K DWT MV Seattle’s employment will bring in around $11.2 million in gross revenue for the minimum duration of the charter. Earlier this week, Athens-based New York-listed shipowner and operator Diana Shipping (DSX) placed orders for two (2) methanol dual-fuel kamsarmax bulk carriers from the Tsuneishi Zhoushan for around $46 million each. 30-September-2023
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) has resumed ship ordering with a contract for two (2) methanol dual-fuel kamsarmax bulk carriers. Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) has entered into a LOI (letter of intent) to commission, either through the Japanese trading company Marubeni Corporation or its independent guaranteed nominee, two (2) 81K DWT methanol dual-fuel kamsarmax bulk carriers at the Tsuneishi Zhoushan Shipyard. Two (2) 81K DWT methanol dual-fuel kamsarmax bulk carriers are slated for delivery in the Q2 2027 and the Q2 2028, with each methanol dual-fuel kamsarmax bulk carrier priced at $46 million. Diana Shipping (DSX) remarked on the company’s commitment to sustainable shipping, emphasizing their continuous efforts to improve the fleet and operations for the benefit of stakeholders and the environment. Currently, Athens-based New York-listed shipowner and operator Diana Shipping (DSX) operates a fleet of 41 bulk carriers. Diana Shipping (DSX) last placed an order for bulk carriers in 2014 with Yangzhou Dayang Shipbuilding. However, following the Yangzhou Dayang Shipbuilding’s financial collapse in 2016 and subsequent delivery delays, the order was canceled that same year. Tsuneishi Zhoushan Shipyard has emerged as a preferred choice for methanol-powered bulk carriers. 27-September-2023
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) has secured time charter contracts for two of its dry bulk carriers with ASL Bulk Marine and ST Shipping and Transport. Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) has chartered its ultramax bulk carrier, MV DSI Pyxis, to Bulk Marine. The gross charter rate for MV DSI Pyxis is set at $14,250 daily. Diana Shipping (DSX) chartered out 2018 built ultramax bulk carrier 60K DWT MV DSI Pyxis from at least 10 October 2024, to a possible end date of 10 December 2024. In a separate agreement, ST Shipping and Transport will charter Athens-based New York-listed shipowner and operator Diana Shipping’s (DSX) 2009 built kamsarmax bulk carrier 82K DWT MV Maia for around $13,500 daily. The charter period is set to last from at least June 15, 2024, to a potential end date of August 20, 2024. Athens-based Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) estimates that MV DSI Pyxis and MV Maia charters will produce around $8.9 million in gross revenue for the minimum scheduled charter durations. Curretly, Athens-based Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) owns and operates 41 bulk carriers, including four (4) newcastlemax bulk carriers, ten (10) capesize bulk carriers, five (5) post-panamax bulk carriers, six (6) kamsarmax bulk carriers, seven (7) panamax bulk carriers, and nine (9) ultramax bulk carriers. 26-September-2023
Nasdaq Stock Market (Nasdaq)-listed OceanPal, Diana Shipping’s (DSX) new separate sister company, has secured a time charter agreement with Seoul-based shipowner and operator Five Ocean Corporation for one of its capesize bulk carriers. Athens-based Semiramis Paliou-led shipowner and operator Diana Shipping’s (DSX) sister company OceanPal chartered out 2005 built capesize bulk carrier 171K DWT MV Salt Lake City at a gross charter rate of $14,500 per day to Five Ocean Corporation. OceanPal announced that the 2005 built capesize bulk carrier 171K DWT MV Salt Lake City would be chartered for a duration ranging from 120 to 180 days. OceanPal is expected to yield roughly $1.52 million in gross revenue for the minimum scheduled charter period. Currently, Nasdaq Stock Market (Nasdaq)-listed OceanPal’s fleet comprises five (5) dry bulk carriers: two (2) capesize bulk carriers and three (3) panamax bulk carriers. In late August 2023, Robert Perri-led OceanPal ventured into the chemical tanker sector. OceanPal invested in the Norwegian firm, RFSea Infrastructure II, which has ordered two 6,600 DWT methanol-ready stainless steel chemical tankers from Wuhu Shipyard. 25-September-2023
Nasdaq Stock Market (Nasdaq)-listed OceanPal, Diana Shipping’s (DSX) new separate sister company, is gracefully venturing into the chemical tanker sphere through a strategic alliance with the Norwegian RFSea Infrastructure II. Norwegian RFSea Infrastructure II has commissioned the construction of two exquisite 6K DWT methanol-ready stainless steel tankers at the Wuhu Shipyard. Robert Perri-led shipowner and operator OceanPal boasts of two (2) capesize bulk carriers along with three (3) panamax bulk carriers within its armada, has collaborated with the esteemed UK-based alternative investment and commercial administration enterprise, RFOcean. RFOcean and OceanPal collaboration is further enriched with the participation of other sophisticated partners and investors. Nasdaq Stock Market (Nasdaq)-listed shipowner and operator OceanPal, remains reticent regarding the magnitude of their monetary involvement. However, OceanPal anticipatea the grand arrival of these vessels during the Q4 2025 and Q1 2026. OceanPal’s genesis can be traced back to the waning moments of 2021, when the visionary Semiramis Paliou of Diana Shipping (DSX), with a stroke of strategic genius, segregated three of their bulk carriers, bestowing them upon a freshly minted OceanPal. In Q2 2023, Athens-based shipowner and operator OceanPal celebrated a commendable net profit, approximating $1.26 million. Nasdaq Stock Market (Nasdaq)-listed OceanPal CEO Robert Perri eloquently expressed, “It is with immense pride and optimism that we channel our investments into these avant-garde, methanol-prepared chemical tankers. We are poised at the cusp of a chemical tanker market that, we fervently believe, will witness an upswing in the forthcoming years. Beyond the financial ramifications, this investment stands as a testament to our commitment towards a greener future. These nascent vessels are projected to showcase a fuel efficiency surpassing their conventional counterparts by a remarkable 20-25%.” 29-August-2023
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) has consummated a time charter agreement with Solebay Shipping concerning its 2007 built capesize bulk carrier 174K DWT MV Semirio. Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) chartered out MV Semirio to Solebay Shipping with a stipulated gross charter rate stands at $14,150 daily, with a deduction of a 5% commission allocated to shipbrokers. 2007 built capesize bulk carrier 174K DWT MV Semirio charter arrangement spans from no earlier than 20 November 2024, and may extend until 30 January 2025, at the latest. Athens-based Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) purports that the commencement of the charter for the MV Semirio is slated for 30 August 2023. Athens-based New York-listed shipowner and operator Diana Shipping (DSX) will earn approximately $6.38 million in gross earnings throughout the minimum designated duration of the time charter of 2007 built capesize bulk carrier 174K DWT MV Semirio. Curretly, Athens-based Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) owns and operates 41 bulk carriers, including four (4) newcastlemax bulk carriers, ten (10) capesize bulk carriers, five (5) post-panamax bulk carriers, six (6) kamsarmax bulk carriers, seven (7) panamax bulk carriers, and nine (9) ultramax bulk carriers. 14-August-2023
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) fell short of the Wall Street consensus in Q2 2023, primarily due to the subdued performance of the dry bulk market. Furthermore, Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) anticipates continued weakness in its earnings, as approximately 20% of this year’s available days for shipments remain unfixed. Despite the challenges posed by the lackluster dry bulk market, Diana Shipping (DSX) managed to maintain profitability and kept its bottom line in the black. 2-August-2023
DNB and Nordea have emerged as the financiers behind Athens-based New York-listed shipowner and operator Diana Shipping’s (DSX) substantial refinancing of $123 million. Athens-based Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) has stated that the loans from ABN Amro and Nordea themselves will be replaced by cash. Diana Shipping (DSX) has disclosed that DNB and Nordea are the financial institutions providing the substantial amount of nearly $123 million in fresh funding. In May 2023, Diana Shipping (DSX)had previously announced two agreements to refinance its existing debt but had not revealed the lenders involved. Now, Diana Shipping (DSX) has confirmed the completion of both transactions and has fully utilized the borrowed sums. The initial loan, amounting to $100 million, has been secured from DNB. Curretly, Athens-based Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) owns and operates 42 bulk carriers, including four newcastlemax bulk carriers, ten capesize bulk carriers, five post-panamax bulk carriers, six kamsarmax bulk carriers, seven panamax bulk carriers, and ten ultramax bulk carriers. 30-June-2023
Nasdaq Stock Market (Nasdaq)-listed OceanPal, Diana Shipping’s (DSX) new separate sister company, has successfully met the minimum bid price requirement of $1 set by the Nasdaq stock market. Robert Perri-led OceanPal achieved this by consolidating shares for the second time since their separation from Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) in late 2021. Diana Shipping’s (DSX) spun off OceanPal, which owns two (2) capesize bulk carriers and three (3) panamax bulk carriers, received a compliance notice on Friday following a 1-for-20 reverse stock split that took effect on June 8, 2023. Since June 8, 2023, Nasdaq Stock Market (Nasdaq)-listed OceanPal’s stock price has remained above $1 because the combined shares were valued at $3.81 per share at that time. However, as of midday trading on Tuesday in New York, the stock price has fallen to $1.71. Athens-based OceanPal stated that The Nasdaq Stock Market’s Listing Qualifications department notified the OceanPal that the company has rectified the minimum bid price deficiency and regained compliance. This matter is now closed. This marks the second instance in which OceanPal has met Nasdaq’s $1 minimum bid requirement through a reverse stock split. To raise the share price above $1 after Nasdaq issued a notice in March 2022 due to a drop below $1, OceanPal initially implemented a 1-for-10 reverse stock split in December 2022. As a result of these two reverse stock splits, the OceanPal’s share count has significantly decreased. 27-June-2023
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) has engaged in a time charter agreement with Western Bulk Carriers (WBC) for one of its ultramax dry bulk carrier. Semiramis Paliou-led shipowner and operator Diana Shipping’s (DSX) stated that the specific ultramax dry bulk carrier involved is the MV DSI Altair. The gross charter rate amounts to $13,800 per day. The MV DSI Altair charter will be in effect from June 25, 2023, until a minimum of August 10, 2024, with the possibility of extending it until October 10, 2024. The charter of the 2016 built ultramax bulk carrier 60K DWT MV DSI Altair is expected to commence on June 25, 2023. Athens-based New York-listed shipowner and operator Diana Shipping (DSX) anticipates that the deployment of the MV DSI Altair will generate approximately $5.6 million in gross revenue during the minimum scheduled period of the time charter. In recent months, Diana Shipping (DSX) has successfully secured employment for several of its vessels. In April, the company obtained charters for the MV DSI Drammen and MV Electra. In May, Diana Shipping (DSX) finalized agreements for the MV Santa Barbara and MV Phaidra. In June, Diana Shipping (DSX) inked a charter for the capesize MV New York. Curretly, Athens-based Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) owns and operates 42 bulk carriers, including four newcastlemax, ten capesize bulk carriers, five post-panamax bulk carriers, six kamsarmax bulk carriers, seven panamax bulk carriers, and ten ultramax bulk carriers. The combined carrying capacity of the Diana Shipping’s (DSX) fleet amounts to approximately 4.7 million deadweight tons (dwt), with an average age of 10 years. 21-June-2023
Nasdaq Stock Market (Nasdaq)-listed OceanPal, Diana Shipping’s (DSX) new separate sister company, executes a 1-for-20 reverse stock split to keep the Nasdaq listing. This is OceanPaly’s second reverse stock split since its founding in October 2021. Semiramis Paliou-led shipowner and operator Diana Shipping’s (DSX) spun off OceanPal has pulled off a 1-for-20 reverse stock split to ensure that the company’s stock stays listed on the Nasdaq Stock Exchange. In October 2021, Diana Shipping (DSX) spun off three (3) of its vintage bulk carriers into a separately listed company named OceanPal. OceanPal’s shares have traded below Nasdaq Stock Exchange’s $1 minimum bid requirement since 8 February 2023, when the stock price plunged by 38% to $0.74 per share. As a consequence, Nasdaq Stock Exchange put OceanPal on notification for trading below $1 for 30 straight days, therefore mandating the OceanPal to get its share price to at least that level within six (6) months to avoid being delisted. Currently, Athens-based Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) owns and operates 43 bulk carriers. 7-June-2023
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) chartered out 2015 built capesize bulk carrier 179K DWT MV Santa Barbara to Hong Kong-based ship operator Smart Gain Shipping for $21,250 per day for at least 18 months. Hong Kong-based ship operator Smart Gain Shipping charter deal commenced on Sunday and will last until October 2024. This is the second-period employment deal for Diana Shipping (DSX) in a week. Currently, Athens-based New York-listed shipowner and operator Diana Shipping (DSX) owns and operates 42 bulk carriers. 9-May-2023
Nasdaq Stock Market (Nasdaq)-listed OceanPal, Diana Shipping’s (DSX) new separate sister company, appointed Vasiliki Plousaki as CFO (Chief Financial Officer) and Margarita Venio as corporate secretary. OceanPal has recently made two executive appointments that will result in a significant rarity in the shipping industry – a predominantly female C-suite. This is a remarkable achievement for a company chaired by the distinguished female leader of shipping, Semiramis Paliou. Vasiliki Plousaki has been appointed as the CFO (Chief Financial Officer), bringing her exceptional financial expertise to OceanPal’s executive team. Alongside Vasiliki Plousaki, Margarita Venio has been named the Company Secretary, in addition to her current role as the Chief Corporate Development and Governance Officer. These appointments are a testament to OceanPal’s commitment to gender diversity in leadership roles and serve as an inspiration for other companies to follow suit. In October 2021, Diana Shipping (DSX) spun off three (3) of its vintage bulk carriers into a separately listed company named OceanPal. Currently, Athens-based New York-listed shipowner and operator Diana Shipping (DSX) owns and operates 42 bulk carriers. 1-May-2023
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) is currently in the process of securing a loan of $100 million to refinance their debt which is set to mature by May of 2024. As of late February 2023, the long-term debt of Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) amounts to $663 million. Diana Shipping (DSX) has successfully procured a term loan facility from Danish Ship Finance for an amount of up to $100 million, which is scheduled to be repaid by 2028. It is anticipated that the debt will accrue interest at a rate of the secured overnight financing rate, plus an additional 2.2%. Currently, Athens-based New York-listed shipowner and operator Diana Shipping (DSX) owns and operates 42 bulk carriers. 21-April-2023
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) chartered out 2011 built kamsarmax bulk carrier 82K DWT MV Leonidas PC to ship operator Cargill Ocean Transportation for around one (1) year. Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) will be receiving around $5.61 million total from ship operator Cargill Ocean Transportation. Currently, Athens-based New York-listed shipowner and operator Diana Shipping (DSX) owns and operates 41 bulk carriers. 17-March-2023
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) chartered out 2017 built newcastlemax bulk carrier 208K DWT MV San Francisco to ship operator SwissMarine for two (2) years. Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) will be receiving $22,000 per day from ship operator SwissMarine. Currently, New York-listed shipowner and operator Diana Shipping (DSX) has four (4) newcastlemax bulk carriers in the fleet. 2017 built newcastlemax bulk carrier 208K DWT MV San Francisco will not be earning as much per day as the bulk carriers did on a one-year charter ending next week. Athens-based New York-listed shipowner and operator Diana Shipping (DSX) will be earning around $15 million from the MV San Francisco deal. Last year, Diana Shipping (DSX) chartered out 2017 built newcastlemax bulk carrier 208K DWT MV San Francisco to Koch Supply and Trading’s ship chartering arm Koch Shipping Pte Ltd for $30,500 per day. Currently, capesize charter rates are around $14,500 per day for long-term. Currently, Athens-based shipowner and operator Diana Shipping (DSX) owns and operates 41 bulk carriers. 13-February-2023
Nasdaq Stock Market (Nasdaq)-listed shipowner and operator OceanPalmakes public share offer in a bid to raise $15 million. In October 2021, Diana Shipping (DSX) spun off three (3) of its vintage bulk carriers into a separately listed company named OceanPal. Robert Perri-led shipowner and operator OceanPal is looking to sell some equity with the expectancy of making $15 million. Athens-based New York-listed shipowner and operator Diana Shipping (DSX) spun off OceanPal priced the public offering of 15 million common shares at $1.01 each. Each OceanPal stock may be purchased as either a common share or a pre-funded warrant or a Class B warrant to buy one common share. Currently, Athens-based shipowner and operator Diana Shipping (DSX) owns and operates 35 bulk carriers. 8-February-2023
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) chartered out 2014 built panamax bulk carrier 77K DWT MV Atalandi to Aquavita International for between 13 months and 15 months at $13,250 per day. Furthermore, Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) chartered out 2010 built kamsarmax bulk carrier 81K DWT MV Atalandi to Cargill International. Nasdaq Stock Market (Nasdaq)-listed shipowner and operator Diana Shipping (DSX) will earn about $11 million from the charter deals. Diana Shipping (DSX) will be earning much lower charter rates in the sluggish shipping market. Currently, Athens-based shipowner and operator Diana Shipping (DSX) owns and operates 35 bulk carriers. 30-January-2023
Nasdaq Stock Market (Nasdaq)-listed OceanPal, Diana Shipping’s (DSX) new separate sister company, plans 1-for-10 reverse stock split in bid to keep listing at Nasdaq Stock Market (Nasdaq). In October 2021, Diana Shipping (DSX) spun off three (3) of its vintage bulk carriers into a separately listed company named OceanPal. However, OceanPal’s ’s share price has been below Nasdaq Stock Market’s (Nasdaq) minimum bid-price requirement of $1 for 2021. Semiramis Paliou manages Diana Shipping (DSX) and OceanPal at the same time. In 2021, Diana Shipping (DSX) sold three (3) vintage bulk carriers into a separate sister company called OceanPal. OceanPal began the venture on pleasant terms with the company’s shareholders. Diana Shipping’s (DSX) shareholders received one share of OceanPal stock for every 10 shares of Diana Shipping’s (DSX) stock via direct distribution of all OceanPal shares. 1-for-10 reverse stock split to prevent OceanPal shares from delisting on the Nasdaq Stock Market (Nasdaq). Nasdaq Stock Market (Nasdaq)-listed OceanPal’s BOD (Board of Directors) and shareholders endorsed reverse stock split plan at an AGM (annual general meeting) held on 5 April 2022. OceanPal’s 1-for-10 reverse stock split will become effective on Wednesday. Nasdaq Stock Market (Nasdaq)-listed OceanPal’s number of outstanding common shares will fall to 10.2 million. In October 2021, Diana Shipping (DSX) spun off three (3) of its vintage bulk carriers into a separately listed company named OceanPal. Currently, Athens-based shipowner and operator Diana Shipping (DSX) owns and operates 35 bulk carriers. 24-December-2022
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) chartered out three (3) bulk carriers to different ship operators. Diana Shipping (DSX) chartered out 2017 built ultramax bulk carrier 60K DWT MV DSI Phoenix to Hong Kong-based ASL Bulk Marine at $13,250 per day for 16 months to 18 months. Diana Shipping (DSX) chartered out 2012 built post-panamax bulk carrier 98K DWT MV Amphitrite to Luxembourg-based Cobelfret at $14,250 per day for 13 months. Diana Shipping (DSX) chartered out 2014 built panamax bulk carrier 77K DWT MV Crystalia to Singapore-based ship operator Reachy Shipping (SGP) Pte Ltd at $12,500 per day. The latest time-charter contracts indicate that period rates are eroding. Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) will earn around $15 million from the trio deal. Previously, Athens-based New York-listed shipowner and operator Diana Shipping (DSX) signed charter deals for two (2) bulk carriers that reflected similar trends. Currently, Athens-based shipowner and operator Diana Shipping (DSX) owns and operates 36 bulk carriers. 7-November-2022
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) chartered out 2015 built ultramax bulk carrier 60K DWT MV DSI Pollux to Delta Corp Shipping at $17,000 per day for 14 months to 16 months. Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) will earn around $7 million from the deal. The ultramax bulk carrier sector has been on the rise in recent weeks. Currently, Athens-based shipowner and operator Diana Shipping (DSX) owns and operates 36 bulk carriers. 31-October-2022
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) has signed up for a $200 million loan to finance the company’s acquisition of a series of ultramax bulk carriers from Sea Trade Holdings. Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) expressed the term loan will be delivered by Nordea Bank. Diana Shipping (DSX) CFO Ioannis Zafirakis expressed more details will be seen in the next securities filings. 10-October-2022
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) sold MV New Orleans and MV Santa Barbara in a sale and leaseback deal to an unrevealed Japanese financial institution. Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) sold 2015 built capesize bulk carrier 180K DWT MV New Orleans and 2015 built capesize bulk carrier 180K DWT MV Santa Barbara for around $66 million in a sale and leaseback agreement. Diana Shipping (DSX) will bareboat charter the MV New Orleans and MV Santa Barbara for eight (6) years. Furthermore, Diana Shipping (DSX) may purchase the ships back after the third year of the agreement. Currently, Athens-based shipowner and operator Diana Shipping (DSX) owns and operates 43 bulk carriers. 19-August-2022
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) claps back at criticism that the company overpaid for the Sea Trade Holdings’ fleet. Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) is thrilled about the company’s new $330 million fleet purchase from Sea Trade Holdings and skeptical over analysis that Diana Shipping (DSX) has paid too much for the ultramax bulk carriers. No charters attached to the Sea Trade Holdings controlled ultramax bulk carriers as the ultramax bulk carriers join Diana Shipping’s (DSX) fleet in Q4 2022. In Q4 2022, New York-listed shipowner and operator Diana Shipping (DSX) entered into the ultramax segment with the nine (9) ultramax bulk carriers purchase. Diana Shipping (DSX) believes it’s a significant deal and Diana Shipping (DSX) is extremely pleased about the purchase. At the beginning of 2022, Athens-based shipowner and operator Diana Shipping (DSX) sold three (3) vintage bulk carriers into a separate sister company called OceanPal. In October 2021, Diana Shipping (DSX) planned to spin off three (3) of its vintage bulk carriers into a separately listed company named OceanPal. 15-August-2022
Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) is thrilled about the company’s new $330 million fleet purchase from Sea Trade Holdings. Shipping market veterans are skeptical over the analysis that Diana Shipping (DSX) has paid too much for the nine (9) ultramax bulk carriers. Shipping market veterans raised eyebrows over the average $36.6 million Athens-based New York-listed shipowner and operator Diana Shipping (DSX) is paying for nine Sea Trade Holdings nine (9) ultramax bulk carriers built between 2015 and 2018. Currently, the online platform Vessels Value assessed one Japanese-built ultramax bulk carrier priced at $31.3 million. Shipping market veterans are questioning if the Athens-based New York-listed shipowner and operator Diana Shipping (DSX) overpay for Sea Trade Holdings’ nine (9) ultramax bulk carriers bonanza. Diana Shipping (DSX) used shares below NAV (net asset value ) which problematizes what may already be a price premium. Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) completed the biggest ultramax segment S&P (Sale-and-Purchase) transaction of summer 2022. 13-August-2022
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) acquired nine (9) ultramax bulk carriers from Sea Trade Holdings for around $330 million. The private shipowner Sea Trade Holdings sold its entire ultramax fleet after projects to launch New York IPO (Initial Public Offering) never came to realization. Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) has completed a bold move into the ultramax bulk carrier segment with a $330 million strike for nine (9) bulk carriers from the fleet of private shipowner Sea Trade Holdings. Athens-based New York-listed shipowner and operator Diana Shipping (DSX) acquired Connecticut-based Sea Trade Holdings’ entire fleet. Previously, Sea Trade Holdings had plans to launch a public company in New York. However, Sea Trade Holdings’ IPO (Initial Public Offering) has never materialized. 11-August-2022
New York-listed shipowner and operator Diana Shipping (DSX) sold 2022 built capesize bulk carrier 181K DWT MV Florida for an approximately $50 million sale and leaseback deal to a Japanese player. Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) bareboat chartered in 2022 built capesize bulk carrier 181K DWT MV Florida for 10 years with purchase options in 2025. 2022 built capesize bulk carrier 181K DWT MV Florida was constructed at Namura Shipbuilding. In December 2021, New York-listed shipowner and operator Diana Shipping (DSX) acquired the capesize bulk carrier 181K DWT MV Florida in a resale deal for approximately $60 million. Capesize bulk carrier 181K DWT MV Florida first capesize acquisition of Diana Shipping (DSX) since 2016. Diana Shipping (DSX) chartered out 2022 built capesize bulk carrier 181K DWT MV Florida to Bunge at $25,900 per day for five years. Athens-based shipowner and operator Diana Shipping (DSX) reported a $57 million profit for 2021. New York-listed shipowner and operator Diana Shipping (DSX) has doubled the company’s quarterly dividend to $0.20 per share. Recently, Athens-based shipowner and operator Diana Shipping (DSX) sold three (3) vintage bulk carriers into a separate sister company called OceanPal. In October 2021, Diana Shipping (DSX) planned to spin off three (3) of its vintage bulk carriers into a separately listed company named OceanPal. Currently, Athens-based shipowner and operator Diana Shipping (DSX) owns and operates 34 bulk carriers. 23-March-2022
Nasdaq-listed OceanPal, Diana Shipping’s (DSX) new separate sister company, allocated a $0.05 dividend for Q4 2021. Last year, Diana Shipping (DSX) sold three (3) vintage bulk carriers into a separate sister company called OceanPal. OceanPal began the venture on pleasant terms with the company’s shareholders. New York-listed shipowner and operator Diana Shipping’s (DSX) shareholders received one share of OceanPal stock for every 10 shares of Diana Shipping’s (DSX) stock via direct distribution of all OceanPal shares. Semiramis Paliou-led Diana Shipping (DSX) and OceanPal at the same time. In Q4 2021, OceanPal reported a net income of $65K. Currently, Nasdaq-listed OceanPal has a market capitalization of approximately $19 million. New York-listed shipowner and operator Diana Shipping (DSX) sold three (3) vintage bulk carriers 2004 built panamax bulk carrier 73K DWT MV Protefs, 2005 built panamax bulk carrier 73K DWT MV Calypso and 2005 built capesize bulk carrier 171K DWT MV Salt Lake City to new separate sister company OceanPal. OceanPal has chartered out 2004 built panamax bulk carrier 73K DWT MV Protefs, 2005 built panamax bulk carrier 73K DWT MV Calypso and 2005 built capesize bulk carrier 171K DWT MV Salt Lake City on short-term time charters. 21-March-2022
New York-listed shipowner and operator Diana Shipping (DSX) reported $41 million in net profit for Q4 2022. Athens-based shipowner and operator Diana Shipping (DSX) sold three (3) vintage bulk carriers into a separate sister company called OceanPal. Diana Shipping (DSX) received $15.3 million from Diana’s spinoff of three (3) into a new separate sister company called OceanPal. Semiramis Paliou-led shipowner and operator Diana Shipping (DSX) doubled the company’s quarterly dividend to $0.20 per share. Diana Shipping (DSX) has already chartered out more than 60% of days on pleasing charters during 2022. In February, Greek shipowner and operator Diana Shipping (DSX) boosted the company’s fleet with a 2011-built kamsarmax bulk carrier. Diana Shipping (DSX) reported revenue of $68 million for Q4 2022. Diana Shipping (DSX) reported a TCE (Time-Charter Equivalent) rate of $21,364 per day per bulk carrier for Q4 2022. Diana Shipping (DSX) reported adjusted earnings per share of $0.32 for Q4 2022. Currently, New York-listed shipowner and operator Diana Shipping (DSX) owns and operates 35 bulk carriers. 25-February-2022
New York-listed shipowner and operator Diana Shipping (DSX) charter out 2013 built kamsarmax bulk carrier 81K DWT MV Astarte to Singapore-based bulker operator Tongli Shipping for around $21,500 per day for 14 months. Semiramis Paliou-led Diana Shipping (DSX) is earning from MV Astarte somewhat more than prevailing spot rates for the panamax sector, which indicates an increasing gap with the period market. Diana Shipping (DSX) charter out MV Astarte came after a storm of period charters in the kamsarmax segment in recent weeks. New York-listed shipowner and operator Diana Shipping (DSX) will earn at least $9.3 million in gross revenue from the MV Astarte charter deal. Singapore-based bulker operator Tongli Shipping chartered in three bulk carriers from Diana Shipping (DSX). Currently, New York-listed shipowner and operator Diana Shipping (DSX) owns and operates 33 bulk carriers. 30-January-2022
New York-listed shipowner and operator Diana Shipping (DSX) distributed a $0.10 dividend to shareholders. In October 2021, Diana Shipping (DSX) planned to spin off three (3) of its vintage bulk carriers into a separately listed company named OceanPal. Diana Shipping (DSX) announced the company would give shareholders one share of OceanPal for every 10 owned shares of Diana Shipping (DSX)once the OceanPal transaction is executed. CFO Ioannis Zafirakis stated that Diana Shipping (DSX) has begun a period where the yields that Diana Shipping (DSX) can contribute to shareholders can be remarkable. Athens-based shipowner and operator Diana Shipping (DSX) reported a $13 million net income in Q3 2021. Diana Shipping (DSX) satisfied shareholders who required a dividend without selling the bulk carriers. New York-listed shipowner and operator Diana Shipping (DSX) inaugurated OceanPal with only three (3) bulk carriers as possibilities to both make more money off vintage, debt-free bulk carriers and establish a new listed owner. Currently, OceanPal’s three (3) bulk carriers are well-maintained cash cows. Currently, New York-listed shipowner and operator Diana Shipping (DSX) does not plan to order newbuilding bulk carriers. 17-November-2021
New York-listed shipowner and operator Diana Shipping (DSX) announced to distribute a $0.10 dividend in approximately two weeks after OceanPal spin-off is performed. Semiramis Paliou-led Diana Shipping (DSX) has reported a $14.7 million net income in Q3 2021. In Q3 2020, Diana Shipping (DSX) reported a $13.2 million net loss. Diana Shipping’s (DSX) first dividend since 2008. Diana Shipping (DSX) has reported a $0.16 earnings per share in Q3 2021. Diana Shipping (DSX) has reported a $57.3 million revenue in Q3 2021. Diana Shipping (DSX) has reported average time-charter equivalent earnings of $17,143 per day in Q3 2021. Athens-based shipowner and operator Diana Shipping (DSX) will spin-off of three (3) vintage bulk carriers into a separate corporation called OceanPal. OceanPal is fully spun off from Diana Shipping (DSX) and filed with the US Securities and Exchange Commission as a listed entity. Currently, New York-listed shipowner and operator Diana Shipping (DSX) has a fleet of 37 bulk carriers. 16-November-2021
New York-listed shipowner and operator Diana Shipping (DSX) announced a $0.10 per share dividend. This would be the first dividend payment of Diana Shipping (DSX) since 2008. Diana Shipping (DSX) will be spinning off vintage ships into a separate Nasdaq-traded company named OceanPal. Diana Shipping’s (DSX) dividend declaration reveals the company’s belief in the current dry bulk market strength. Diana Shipping (DSX) operates bulk carriers primarily on long-term charters which gives the company with further steady incomes. Diana Shipping (DSX) is anticipated the dividend to be retained at $0.10 per share throughout 2022. New York-listed shipowner and operator Diana Shipping (DSX) will follow the peers such as Star Bulk Carriers, Genco Shipping & Trading, and Eagle Bulk Shipping which decided to pay quarterly dividends. New York-listed shipping companies have become more cautious about strengthening the balance sheet first and paying dividends second. Currently, New York-listed shipowner and operator Diana Shipping (DSX) has a fleet of 36 bulk carriers. 20-October-2021
New York-listed shipowner and operator Diana Shipping (DSX) will spin off three (3) vintage bulk carriers to sister company OceanPal. OceanPal will get 2004 built panamax bulk carrier 73K DWT MV Protefs, 2005 built panamax bulk carrier 73K DWT MV Calypso and 2005 built capesize bulk carrier 171K DWT MV Salt Lake City from Semiramis Paliou-led Diana Shipping (DSX). Moreover, OceanPal has been awarded the title of the primary refusal over additional six (6) Diana Shipping (DSX) bulk carriers. 73K DWT MV Protefs, 2005 built panamax bulk carrier 73K DWT MV Calypso and 2005 built capesize bulk carrier 171K DWT MV Salt Lake City have been receiving charter rates below prevailing dry bulk market levels. New York-listed shipowner and operator Diana Shipping (DSX) estimates that the distribution of a separate, publicly traded OceanPal which will be concentrating on vintage bulk carriers will further enhance shareholder value. Diana Shipping (DSX) will resume concentrating on its disciplined long-term achieved growth. OceanPal led is by CEO Eleftherios Paratrifon and CFO Ioannis Zafirakis. All common shares of OceanPal will be allocated to Diana Shipping (DSX) shareholders of record as of 29 October 2021. Diana Shipping (DSX) will also hold preferred shares in OceanPal that will empower Diana Shipping (DSX) to preferred dividends and voting rights. Currently, New York-listed shipowner and operator Diana Shipping (DSX) has a fleet of 36 bulk carriers. 19-October-2021
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) has recently secured new charter agreements for a Panamax and a Kamsarmax bulk carrier with Athens-based ship operator Aquavita International SA, a company with Ukrainian-Greek origins. The deal involves the chartering of two of Semiramis Paliou-led shipowner and operator Diana Shipping’s (DSX) Diana Shipping’s ships. The first ship, the ice-classed 77K DWT Panamax bulk carrier MV Atalandi, built in 2014, has been chartered to Aquavita International for a period of 17 to 19 months at a daily gross rate of $24,500. This charter is slated to begin on October 3, following the conclusion of the MV Atalandi’s current contract with Uniper Global Commodities, under which it has been earning a daily gross rate of $9,300. Additionally, Aquavita International SA has chartered Diana Shipping’s 81K DWT Kamsarmax bulk carrier MV Leto, built in 2010, for a duration of 16 to 18 months at a daily gross rate of $25,500. This contract is expected to commence on October 2. The combined gross revenue for Aquavita International SA from these two time charter contracts, for their minimum scheduled periods, is estimated to be approximately $24.27 million. This development follows closely on the heels of another deal Diana Shipping clinched last week. The company fixed its 75K DWT Panamax MV Maera, built in 2013, to Hong Kong-based operator ASL Bulk for a period of 12 to 14 months at a rate of $26,000 per day. These agreements highlight Diana Shipping’s active engagement in the bulk carrier charter market and its ongoing business relations with international shipping operators. 25-September-2021
New York-listed shipowner and operator Diana Shipping (DSX) plots to buy back 3.6% of its outstanding shares at $4.50 per share. Diana Shipping (DSX) is paying a 9.8% premium. Diana Shipping (DSX) concluded that it is in the company’s most beneficial interest to repurchase shares at this time. New York-listed shipowner and operator Diana Shipping’s (DSX) stock soared from $2.18 per share to $5.41 per share from February to June. In December 2020, Diana Shipping (DSX) purchased 6 million shares or about 6.7% of its outstanding common stock. Currently, Diana Shipping (DSX) owns 36 bulk carriers. 15-July-2021
New York-listed shipowner and operator Diana Shipping (DSX) affiliated private company sold 2001 built panamax bulk carrier 75K DWT MV Elim Hope (ex MV Danae) for around $10 million. As long as optimism persists in the dry bulk shipping market, sales activity for bulk carriers is not anticipated to diminish. Second-hand bulk carrier prices appear to be still underpriced when compared to today’s period rates. 14-June-2021
New York-listed shipowner and operator Diana Shipping (DSX) chartered out 2010 built kamsarmax bulk carrier 82K DWT MV Myrsini for a short period (6 months) at $27,750 per day to Bocimar International. Diana Shipping published that MV Myrsini received far higher levels than its previous employment. Forward Freight Agreement (FFA) five-month suggested amount for a kamsarmax bulk carrier is between $26,000 and $26,500 daily. However, charterers have to pay a premium to attract shipowners to cover this short-period deal up. The dry bulk shipping market enters its seasonally strongest in Q2 and Q3 2021. Semiramis Paliou-led Diana Shipping (DSX) has been benefiting from the increasing shipping market. In April 2021, Diana Shipping (DSX) chartered out 2012 built bulk carrier 206K DWT MV Philadelphia for around a year to Classic Maritime at $28,500 per day. Dry bulk shipowners might manage to lock in such lofty earnings for even longer periods such as two-year fixtures. Numerous shipowners are optimistic charter out duration will increase soon. 7-May-2021
New York-listed shipowner and operator Diana Shipping (DSX) chartered out 2013 built panamax bulk carrier 77K DWT MV Ismene for 7-9 months to Tongli Shipping for around $16,500 per day. Currently, bulk carrier spot rates are at multi-year highs. New York-listed shipowner and operator Diana Shipping (DSX) chartered out 2013 built panamax bulk carrier 77K DWT MV Ismene for a short period 57% higher than its former charter.
Previously, Greek shipowner and operator Diana Shipping (DSX) chartered out 2013 built panamax bulk carrier 77K DWT MV Ismene to Phaethon International for $10,500 per day. Greek shipowner and operator Diana Shipping’s full period-charter coverage for the company’s fleet could cause to miss the profitable spot market in Q1 2021. The forecast for panamax spot rates continues bullish for the rest of 2021. Athens-based shipowner and operator Diana Shipping (DSX) might not benefit from current robust panamax spot rates in Q1 2021. Diana Shipping (DSX) is optimistic about dry bulk shipping markets however Diana Shipping (DSX) is not going to distribute dividends until Diana Shipping’s stock trades above NAV (Net Asset Value). 27-February-2021
New York-listed shipowner and operator Diana Shipping (DSX) extended charter of 2013 built post-panamax bulk carrier 87K DWT MV Electra till 30 March 2021 to SwissMarine at a gross rate of $12,500 per day. Diana Shipping is going to earn around $1 million of gross revenue. Diana Shipping has not scrubber-fitted MV Electra. Previously, Greek shipowner and operator Diana Shipping charted out MV Electra to Oldendorff Carriers at a gross rate of $10,250 per day for 25-month. Since the beginning of 2021, it has been an increasing spot market for bulk carriers, which in turn has raised period rates. Baltic Exchange weighted TCA (Time-Charter Average) for panamax spot rates increased to $14,581 per day. 10-January-2021
Greek shipowner and operator Diana Shipping is selling 2006 built panamax bulk carrier 74K DWT MV Coronis for around $7 million. Diana Shipping has not revealed the name of the buyer. MV Coronis will be delivered to the buyer in January 2021. Currently, Simeon Palios’s daughter Semiramis Paliou led Diana Shipping chartered out MV Coronis to Koch Shipping for $8,000 per day. In June 2020, New York-listed shipowner and operator Diana Shipping sold 2007 built panamax bulk carrier 73K DWT MV Arethusa for around $7.8 million to Castor Maritime. In 2019, Diana Shipping sold six (6) panamax bulk carriers. Currently, Athens-based shipowner and operator Diana Shipping has a fleet of 4 newcastlemax, 13 capesize, 5 post-panamax, 5 kamsarmaxes, and 12 panamax bulk carriers. 15-September-2020
Simeon Palios’s daughter Semiramis Paliou led Diana Shipping has spent $8 million in buying back outstanding bonds that are due to mature in September 2023. In September 2018, Diana Shipping raised $100 million when the company issued the bonds. NASDAQ listed shipowner and operator Diana Shipping has repurchased its senior unsecured bonds in its 18/23 bond issue. In Q1 2020, Diana Shipping had $111 million in available cash to buy back its bonds. At the beginning of July 2020, Diana Shipping has extended a bank loan and sold a panamax bulk carrier, Diana Shipping now has no debt maturities until 2022. Athens-based shipowner and operator Diana Shipping bought back $58 million worth of its shares during 2019. Diana Shipping will be buying shares when the share price is below net asset value (NAV). 6-July-2020
Simeon Palios’s daughter Semiramis Paliou led Diana Shipping continues charter-out 2013 built panamax bulk carrier 87K DWT MV Phaidra to Uniper Global Commodities for another year at $9,400 per day. Last year, MV Phaidra was chartered out to Uniper Global Commodities for a year at $10,000 per day. Panamax charter rates decreased due to coronavirus recession. Currently, panamax bulk carriers earn $6,991 per day on average. End of May, Diana Shipping chartered out 2014 built panamax bulk carrier 77K DWT MV Crystalia to Glencore Agriculture for a year at $8,750 per day. Last year, MV MV Crystalia was chartered out to Glencore Agriculture for a year at $10,000 per day. NASDAQ listed shipowner and operator has a fleet of 41 bulk carriers. 31-May-2020
Athens-based New York-listed shipowner and operator Diana Shipping (DSX), which possesses a fleet of 41 dry bulk vessels, recently negotiated a time charter agreement with Koch Shipping for their capesize bulk carrier, the MV Aliki, weighing in at 180,235 DWT and constructed in 2005. The charter, effective since the past Thursday, secures a daily rate of $11,300, extending at the very latest to 15 March 2021. From this arrangement, the anticipated revenue accrual stands at approximately $2.81 million for the minimum scheduled duration, extending until 1 January 2021. Notably, in April 2018, Diana Shipping (DSX) had previously contracted the MV Aliki with SwissMarine Services for a span of 20 months, at a rate of $18,000 daily. This was a time when, according to the Baltic Exchange, the daily rate for capesize bulk carriers hovered around $7,300. As of recent observations, the capesize bulk carrier rate was noted at $8,292 per day on a Monday, witnessing a slight dip from Friday’s $8,381. However, with China’s gradual return to its normal economic rhythm, there’s potential for these rates to experience an upward trajectory. Encouraging indicators emerge from China’s steel sector, evidenced by a surge in production and increasingly stable steel prices. In a recent revelation, the World Steel Association unveiled that the production of Chinese crude steel in March amounted to 78.9 million tonnes, marking an increase from February’s 74.8 million tonnes and only a minor 1.7% decline from the previous year’s March data. 26-April-2020
Simeon Palios’s daughter Semiramis Paliou led Diana Shipping has continued chartering out 2013 built kamsarmax bulk carrier 82K DWT MV Myrto to Cargill till June 2021 at $10,000 per day. Previously, Diana Shipping chartered out MV Myrto to Cargill for nine (9) months. Diana Shipping expects to earn around $4.48 million from kamsarmax bulk carrier MV Myrto charter deal. Currently, kamsarmax bulk carriers are earning $6,813 per day on an average time charter equivalent, down from $9,610 per day on 7 March 2020. Besides kamsarmax bulk carrier MV Myrto, Cargill has chartered in two (2) panamax, one (1) kamsarmax, one (1) post-panamax, and two (2) capesize bulk carriers from New York-listed Diana Shipping. 1-April-2020
Diana Shipping (DSX), despite its endeavors, remains unsuccessful in securing a buyer for one of its grand capesize bulk carriers. However, it did triumph in obtaining a more favorable rate for a panamax bulk carrier. A potential purchaser rescinded an MOA (memorandum of agreement) for the purchase of the capacious 164,200 DWT capesize bulk carrier named MV Norfolk, constructed in 2002, which was previously declared in the twilight of January. Third-party buyers, unassociated with the firm, exercised their prerogative to annul the agreement, citing the absence of a stipulated cancelation date stemming from unpredictable circumstances, independent of the vessel’s state. This revelation was made by the eminent Greek shipowner and operator, Diana Shipping (DSX). Steps have been undertaken by Diana Shipping (DSX) to reimburse the deposit to the said buyers. This incident notably registers as the second abortive sale attempt for the enterprise helmed by Simeon Palios in the preceding weeks. Late January bore witness to Diana Shipping (DSX) announcing the unfortunate collapse of a $7.25 million transaction meant for the 73,700 DWT panamax bulk carrier, MV Calipso, built in 2006. The anticipated proprietors of MV Calipso withdrew due to complications arising from the coronavirus pandemic. On a brighter note, the renowned Athens-headquartered Diana Shipping (DSX) has inked a fixture, spanning nine to ten months, with Koch Shipping for the 74,381 DWT panamax bulk carrier, MV Coronis, constructed in 2006, with a daily rate of $8,000, commencing this Thursday. For context, MV Coronis had been previously contracted to Tongli Shipping for a daily rate of $5,300. This recent arrangement is projected to amass approximately $2.04 million in revenue over the initial nine months. Factoring in the aborted sale, the formidable fleet of Diana Shipping currently boasts 42 dry bulk carriers: a quartet of newcastlemax bulk carriers, a cadre of 14 capesize bulk carriers, a quintet each of post-panamax and kamsarmax bulk carriers, accompanied by 14 panamax bulk carriers. 28-February-2020
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) has articulated its intention to divest its aged vessels and repurchase shares, subsequently pondering over the reinstatement of dividends. The Grecian ship proprietor and operator, Diana Shipping (DSX), remains steadfast in its prevailing operational direction, patiently awaiting the resolution of the freight market tumult instigated by the Covid-19 pandemic. As per the company’s top brass, Diana Shipping (DSX) persists in liquidating antiquated tonnage and reclaiming company equity when conditions are propitious. The fiscal year 2019 witnessed a net loss accruing to common stockholders, tallying up to $16.3 million, contrasting starkly with the preceding year’s profit of $10.8 million. Despite the contraction of Diana Shipping’s (DSX) fleet, which was reduced by six of its most senior bulk carriers, bringing the total to 42, time charter revenues experienced a modest decline of 2.4%, settling at $220.7 million. This outcome underscores the prudence of Diana Shipping’s (DSX) chartering approach, particularly their judicious choice to eschew investment in scrubbers. The enterprise’s leadership lauds its robust state, asserting that Diana Shipping (DSX) maintains a resilient position, especially when juxtaposed with competitors who expended substantial capital on scrubbers. Athens-based New York-listed shipowner and operator Diana Shipping (DSX) wasn’t immune to strategic missteps. January witnessed announcements regarding the intended sale of two bulk carriers, encompassing one panamax and one capesize. However, these endeavors unraveled as prospective purchasers recanted in light of the pandemic’s escalation in China. The firm remains ambivalent, oscillating between relisting the carriers on the secondary market or perpetuating their trade. Concerning equity repurchases, Diana Shipping (DSX) emphasizes its commitment, albeit without imperiling its public stature. 2019 saw the completion of five such transactions, with another consummated recently. Cumulatively, Diana Shipping (DSX) redeemed 17.6 million common shares, an expenditure of $59 million, a noteworthy feat considering their initial stock of 105 million common shares prior to March 2019. In a related development, investment powerhouse Jefferies recalibrated its projections for Diana Shipping (DSX) for 2020 and 2021, forecasting a loss per share of $0.13, down from $0.06, and earnings per share (EPS) of $0.05, a dip from $0.08. 27-February-2020
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) has recently engaged one of its quartet of newcastlemax bulk carriers at a diminished rate, for a more abbreviated tenure compared to its prior agreement. Under the stewardship of Simeon Palios, Diana Shipping (DSX), which boasts ownership of a fleet of 40 bulk carriers, has leased the 206,040 DWT newcastlemax bulk carrier, MV Philadelphia (constructed in 2012), for a span of 14 to 17 months, to the distinguished BHP Billiton Freight Singapore at a daily rate of $14,500. Previously, Diana Shipping (DSX) had committed MV Philadelphia to Koch Shipping for 20 months at a rate of $20,000 per day. The newest accord with BHP Billiton Freight Singapore, commencing on the 5th of February, is poised to yield an estimated gross revenue of approximately $6.09 million over the minimum contract duration. At present, capesize bulk carriers boasting a 180,000 DWT capacity command average daily earnings of $14,637. The majestic fleet of Diana Shipping (DSX), encompasses four newcastlemax bulk carriers, 13 capesize bulk carriers, five post-panamax bulk carriers, five kamsarmax bulk carriers, and a dozen panamax bulk carriers, this tally excludes the recent divestments of the 73,695 DWT panamax bulk carrier MV Calipso (crafted in 2005) and the 164,218 DWT capesize bulk carrier MV Norfolk (inaugurated in 2002). The most recent share repurchase initiative by Diana Shipping (DSX) for 3.03 million shares witnessed a staggering oversubscription, almost six-fold, culminating in a prorated proposition for the vendors. Diana Shipping’s equities, which are showcased on the New York Stock Exchange under the emblem DSX, surged by 4.7%, touching $2.80 by Tuesday noon. The market valuation of Diana Shipping (DSX) is anchored at $260 million, bolstered by a robust 93.1 million extant shares. 11-February-2020
Athens-based New York-listed shipowner and operator Diana Shipping (DSX)has proposed the acquisition of an additional 3 million shares. In the preceding year, the firm invested close to $60 million in its securities. Despite such vigorous activity, Greek shipowner and operator Diana Shipping (DSX) remains steadfast in its commitment to remain publicly traded. As the New Year dawns, Diana Shipping (DSX) persists in its fervor for share buybacks, having recently signaled its intention to retrieve slightly over 3 million standard units. Under the guidance of Simeon Palios, Diana Shipping (DSX) has initiated a tender proposition to repurchase shares at a rate of $3.30 each. This endeavor could see the corporation channeling up to $10 million into its stock. Over the past annum, the firm has reacquired shares valued at $58 million. This modus operandi of Diana Shipping (DSX) is anticipated to remain consistent as long as its stock’s value lies beneath its net asset value (NAV). The esteemed New York investment institution, Jefferies, estimates the NAV of Diana Shipping at $4.35. While there’s substantial latitude for further buybacks, considering its more than 90 million shares still in circulation and a market capitalization of $300 million, the firm is inclined to preserve a significant portion of its value in the public domain. Embracing its public status, the Greek maritime entity Diana Shipping (DSX) acknowledges the merits of tapping into the public equity sector. The board of directors, after careful consideration, concluded that given Diana Shipping’s robust financial standing and share valuation, it’s propitious for the company to repurchase shares presently. 9-January-2020
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) contemplates reinstating dividends should the stock consistently exceed its NAV (net asset value). Over the preceding year, Diana Shipping (DSX) has actively repurchased its equity, accumulating an impressive $48 million, with an additional $10 million set aside for further acquisitions. Led by Simeon Palios, Diana Shipping (DSX) unveiled its recent proposal of 2.74 million shares, marking the fifth such offer since late 2018. The firm remains committed to this endeavor so long as its stock remains beneath the NAV, a metric that essentially encapsulates a firm’s net worth on a per-share basis. Acutely aware of its public stature, Diana Shipping (DSX) remains judicious, ensuring its actions won’t compromise the company’s public perception. With substantial growth potential in the horizon, the company intends to persist in its stock repurchases, provided the shares remain undervalued, to enrich its shareholders. As of the mid-afternoon trading session on the New York Stock Exchange, the shares of Diana Shipping (DSX) experienced a 5.8% decline, stabilizing at $3.28. Jefferies estimates the company’s NAV to be $4.27 per share. Should the stock attain its rightful valuation, Diana Shipping (DSX) might pivot towards reintroducing dividends, harnessing its robust financial reserves, rather than repurchasing shares. Echoing this sentiment, renowned bulker proprietors like Genco Shipping & Trading and Star Bulk Carriers have both recently resumed their dividend distributions following prolonged intermissions. Furthermore, Diana Shipping (DSX) envisions revitalizing its fleet by divesting older vessels, while refraining from acquiring newer ones. The firm remains sanguine about managing a streamlined fleet of 30 bulk carriers, contingent on their age and condition. Over the past year, Diana Shipping has divested itself of seven bulk carriers, consolidating its fleet to 42 dry bulk vessels. 2-January-2020
While Diana Shipping’s (DSX) share buyback has garnered an oversubscription, not all tenders will be accommodated. The buyback program, which witnessed a near fivefold oversubscription, might not culminate as many investors envisioned. The New York-listed maritime corporation intends to repurchase merely a fraction of the 12.2 million shares tendered, limiting its acquisition to roughly 2.74 million shares at $3.65 apiece. This prorated offer, which concluded on Wednesday, is anticipated to infuse Simeon Palios-led Diana Shipping (DSX) with a projected $10 million liquidity. The enterprise will declare its definitive repurchase volume subsequent to a meticulous verification procedure. As long as the shares persistently trade beneath the net asset value (NAV), Diana Shipping (DSX) envisages continued share repurchases and disposal of antiquated tonnage. Once the stock garners a just valuation, a revival of shareholder dividends might be on the horizon. In recent developments, Diana Shipping’s (DSX) shares have witnessed a slight dip of 1.8%, settling at $3.21 in the nascent trading hours on the New York Stock Exchange. The esteemed firm Jefferies has estimated Diana Shipping’s (DSX) net asset value (NAV) to be $4.27 per share. Over the preceding year, Diana Shipping (DSX) has divested seven vessels, retaining a fleet of 42 dry bulk carriers. 11-December-2019
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) anticipates amassing a revenue of $7 million from the inception of two new charters. Under the astute leadership of Simeon Palios, Diana Shipping (DSX) has engaged the 82,117-dwt kamsarmax bulk vessel MV Myrsini (constructed in 2010) with Asuca Shipping of Hong Kong, setting terms for a tenure ranging from 13 to 15 months at a daily rate of $11,500, with the commencement set for the forthcoming Wednesday. Moreover, the firm has also procured an agreement for the 76,942-dwt panamax bulk vessel MV Artemis (crafted in 2006) with Koch Shipping of Singapore, with a stipulated duration of 9 to 11 months at $10,150 daily. The contractual service for MV Artemis embarked this past Thursday. Collectively, these engagements are projected to yield an impressive gross revenue of approximately $7.07 million over their minimal scheduled durations. In their prior annual charters, MV Myrsini and MV Artemis had commendably secured daily earnings of $12,750 and $12,600, respectively. On a recent Monday, Diana Shipping (DSX) unveiled a third-quarter profit margin of a commendable $1.3 million. As a strategic move, Diana Shipping (DSX) envisages perpetuating its stock repurchase initiative but contemplates bestowing dividends once the stock reaches an equitable valuation. Currently, Diana Shipping’s maritime arsenal boasts 42 dry bulk vessels, a testament to its dynamic expansion, having divested seven ships in the preceding year. 4-December-2019
In the third quarter of 2019, Athens-based New York-listed shipowner and operator Diana Shipping (DSX) recorded a diminished profit due to a reduction in their fleet size and a decline in freight revenue. During this period, Diana Shipping (DSX) posted a modest profit of $1.3 million. The net income attributable to common shareholders stood at $300,000. Over the preceding year, the illustrious Greek shipowner and operator, Diana Shipping (DSX), divested itself of seven bulk carriers. This divestment significantly contributed to the diminished time charter revenues witnessed throughout 2019. The proceeds from these sales were judiciously reinvested in the repurchase of the company’s securities through two share tender offers. A notable decline was observed in the average time charter rates Diana Shipping (DSX) secured for its bulk carriers, sliding from $12,975 daily in the prior year’s third quarter to $12,682 daily in the recent quarter. The overall time charter revenue for Q3 2019 culminated at $53.5 million. While Diana Shipping’s (DSX) financial outcomes slightly underperformed forecasts, industry analysts had anticipated this revenue drop. Two share tender offers were finalized by Diana Shipping (DSX) in the third quarter of 2019, with the company allocating a sum of $27.5 million to repurchase its shares. This move towards repurchasing shares was primarily financed by the sale of bulk carriers, aiming to narrow the valuation disparity in the open market. Going forward, Diana Shipping’s (DSX) strategic direction will prioritize channeling its available cash reserves into share repurchases, especially if they trade below Net Asset Value (NAV). A pivot towards dividend distribution might emerge if there’s a surge in valuation. 1-December-2019
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) proposes a repurchase of shares worth $10 million. Greek shipowner and operator Diana Shipping (DSX) has initiated a tender proposition to acquire as many as 2.74 million outstanding common units, priced at $3.65 each. This tender is set to conclude on 11th December 2019, unless otherwise extended or rescinded, as articulated by Diana Shipping (DSX). The esteemed Board of Directors at Diana Shipping (DSX) deemed it most advantageous for the firm to reclaim shares at this juncture, considering their robust financial standing and the prevailing stock valuation. In this endeavor, Diana Shipping (DSX) has engaged the services of Computershare Trust Company as the depositary, while appointing Georgeson as the information custodian. Earlier this year, Diana Shipping (DSX) divested a panamax bulk carrier, specifically the China-forged 73,700 DWT MV Clio (crafted in 2005), procuring a sum of $7.4 million from an anonymous acquirer. Over the preceding year, Diana Shipping (DSX) has successfully redeemed shares amounting to $48 million through four distinct offers, with the latest in June surging to $10 million. As per its Q3 2019 financial disclosures, Diana Shipping (DSX) boasted a cash reserve of $121.4 million as of 30th September 2019. 11-November-2019
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) has divested another panamax bulk carrier. To date, this marks the sixth panamax bulk carrier that Diana Shipping (DSX) has parted with this year. The esteemed company finalized the sale of the China-fabricated 73,700 DWT panamax bulk vessel, MV Clio (constructed in 2005), to an anonymous entity for a sum of $7.4 million. The Athens-centric Diana Shipping (DSX) has previously relinquished five additional panamax bulk carriers since the commencement of the year, coupled with another duo in November 2018, each aging at least 14 years or more. The illustrious 73,700 DWT panamax bulk carrier MV Clio culminated a year-long charter with the Hong Kong-established Ausca Shipping on 5 November 2019, during which it amassed a handsome gross rate of $10,600 daily. The MV Clio is anticipated to rendezvous with its new custodian by 29 November at the latest. This transaction illuminates the stark discrepancy between the valuation of Chinese-constructed panamax bulk carriers of this era and their Japanese counterparts. Upon completion, the armada of Diana Shipping (DSX) will boast 42 bulk carriers, inclusive of four newcastlemax bulk vessels, 14 capesize carriers, five post-panamax vessels, five kamsarmax vessels, and 14 panamax carriers. 6-November-2019
Simeon Palios’ progeny, Semiramis Paliou, is poised to ascend the ranks of Athens-based New York-listed shipowner and operator Diana Shipping (DSX). In a strategic move aimed at ensuring a smooth leadership transition, Greek shipowner and operator Diana Shipping (DSX) has instituted the position of Deputy Chief Executive with immediate effect. Semiramis Paliou, an esteemed executive and the scion of Simeon Palios, has gracefully accepted this mantle, whilst maintaining her directorial position since 2015 and her operational command from 2018 onwards. The New York-listed Diana Shipping (DSX) envisions Mr. Simeon Palios persistently embodying his role as the corporate luminary. The Board of Directors of Diana Shipping (DSX), in a harmonious consensus, endorsed Semiramis Paliou for the deputy berth, following the sagacious counsel of the company’s independent Nominating Committee. This committee holds the conviction that Semiramis Paliou’s prowess positions her to potentially inherit the Chief Executive’s chamber, furthering the legacy and meticulous expansion piloted by the present Chairman and Chief Executive, Mr. Simeon Palios. As a member of the board and a pivotal officer, Semiramis Paliou’s insights into the maritime sector and her formidable leadership within Diana Shipping (DSX) are indisputable. The committee, whilst envisaging a prolonged tenure for Simeon Palios in his esteemed role, acknowledges today’s decree as emblematic of the significance of a fluid leadership metamorphosis for all vested parties. This seminal moment, with the appointment of Semiramis Paliou, heralds the dawn of a renewed era of executive stewardship for the venerable institution of Diana Shipping (DSX), founded in 2005. 27-October-2019
Diana Shipping’s (DSX) equity repurchase initiative encountered an overwhelming reception, far exceeding the anticipated commitment. Athen-based New York-listed shipowner and operator Diana Shipping (DSX), ready to acquire a sizable portion of its own shares, was met with an offering twice as large as anticipated. Investors eagerly tendered a substantial 6.085 million of their shares in contrast to the 2.82 million Diana Shipping (DSX) intended to buy back. At a rate of $3.55 per share, the company has allocated $10 million for this venture, disbursed on a pro-rata basis. This significant commitment was notably a twofold increase from an initial $5 million proposition. On Monday, in the bustling hub of New York’s trading arena, Diana Shipping’s (DSX) shares marked a slight decline, closing at $3.43, a decrease of 0.29%. The maritime transport giant opined that this strategic move aligns favorably with its robust financial position, boasting an impressive $121.4 million in reserves as reflected in their Q3 filings, juxtaposed with the prevailing share price. Rewinding to mid-June, Diana Shipping (DSX) unveiled a tender offer, targeting the acquisition of 2 million shares at $3.25 each. However, by 11 July 2019, the firm elevated its offer to an enticing $3.75 per share. This culminated in the tendering of 2.6 million shares, prompting Diana Shipping (DSX) to invest a considerable $7.5 million in total. 14-October-2019
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) charters out post-panamax bulk carrier to Al Ghurair Resources for a year at a rate in line with the market. The Simeon Palios-led shipowner Diana Shipping (DSX) has entered into a time charter contract with the UAE-based Al Ghurair Resources for 98,704 DWT post-panamax bulk carrier MV Polymnia (built 2012) at $14,500 per day, for 12 to 14 months. MV Polymnia charter is expected to make about $5.2 million of gross revenue for the minimum scheduled period of the time charter. Currently, Greek shipowner and operator Diana Shipping’s (DSX) fleet consists of four newcastlemax bulk carriers, 14 capesize bulk carriers, five post-panamax bulk carriers, five kamsarmax bulk carriers, and 15 panamax bulk carriers. 11-October-2019
Diana Shipping (DSX), an Athens-based shipowner and operator listed in New York, has increased its share buyback plan to $10 million. Initially, Diana Shipping (DSX) aimed to repurchase 1.4 million shares at $3.55 each. This target has now been revised to 2.81 million shares. Despite the shares closing at $3.38 on Monday, the deadline for this offer has been extended from 4 October to 11 October. Diana Shipping (DSX) mentioned that this decision aligns with its best interests, considering its cash reserves of $121.4 million as reported in its Q3 filings, and the prevailing share price. Notably, Diana Shipping (DSX) previously launched a tender in mid-June, intending to buy back 2 million shares at $3.25 each. However, on 11 July, they adjusted this offer price to $3.75. Ultimately, Diana Shipping (DSX) repurchased 2.6 million shares, incurring a total expense of $7.5 million. 1-October-2019
Diana Shipping (DSX), under the leadership of Simeon Palios, is executing a strategic approach of selling older vessels in favor of buying back its undervalued shares. Since November, the company has successfully sold seven panamax bulk carriers, including the 2004-built, 73K DWT MV Thetis, netting a total of approximately $42.1 million. From these proceeds, Diana Shipping has reinvested nearly $44 million to repurchase 13.1 million of its own shares. Athens-based New York-listed shipowner and operator Diana Shipping (DSX) has been proactive in returning capital to its shareholders through a series of self-tender offers. The management team remains steadfast in this strategy, especially when the company’s stock trades beneath its net asset value (NAV). As long as there’s a disparity between the market share price and the NAV, Diana Shipping (DSX) views share buybacks funded by the proceeds from ship sales as a strategic move. This approach not only allows Diana Shipping (DSX) to phase out older tonnage but also enables it to maintain its desired cash reserves, which it aims to keep between $140 million to $150 million, with aspirations to grow it further. Currently, with the share price closing at a decrease of 4.4% to $3.49, Diana Shipping (DSX) plans to continue this strategy. Diana Shipping (DSX) is looking into selling more from its fleet of 13 unencumbered bulk carriers, cumulatively valued at close to $150 million. However, while Diana Shipping (DSX) sees potential in converting more bulk carriers into shares, there’s no rush to do so. 1-August-2019
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) plans to sell one of its panamax bulk carriers to an unaffiliated third party. The Simeon Palois-led bulker player Diana Shipping (DSX) has signed an MOA (memorandum of agreement) with the buyer to purchase 2001 built panamax bulk carrier 75K DWT MV Nirefs for around $6.71 million. Diana Shipping (DSX) sold another 2004 built panamax bulk carrier 73K DWT MV Thetis for around $6.41 million. Diana Shipping (DSX) has sold six bulk carriers built in the early 2000s since November last year. In mid-February, Greek shipowner and operator Diana Shipping (DSX) announced plans to sell 2001 built panamax bulk carrier 75K DWT MV Danae and 2001 built panamax bulk carrier 75K DWT MV Dione for $7.2 million each. Athens-based shipowner and operator Diana Shipping (DSX) also signed an agreement in April to sell the 2004 built panamax bulk carrier 74K DWT MV Erato (built 2004) for $7 million. Once this latest sale is complete, Diana Shipping’s (DSX) fleet will consist of 43 dry bulk carriers: 4 newcastlemax bulk carriers, 14 capesize bulk carriers, 5 post-panamax bulk carriers, 5 kamsarmax bulk carriers, and 15 panamax bulk carriers. 25-July-2019
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) has recently secured a short-term period contract for one of its panamax bulkers, coinciding with the spot market’s peak performance in nearly six years. The 2010-built panamax bulk carrier, MV Selina, boasting a 75K DWT, has been chartered to Ausca Shipping based in Hong Kong. The contract spans seven to nine months at a gross rate of $11,750 daily. This rate comes after MV Selina’s previous charter to BG Shipping of Hong Kong, which had a gross rate of $12,250 daily. Interestingly, Diana Shipping’s rate is somewhat lower than recent market fixtures for comparable durations. For instance, on 11 July, the MV Irene Madias, a 79,516 DWT vessel constructed in 2012, was chartered to an anonymous Chinese entity at a daily rate of $13,000 for a six to eight-month term. Given the prevailing spot market conditions, Diana Shipping might have achieved higher rates if they had chartered the panamax bulk carriers now. However, under the guidance of Simeon Palios, Greek shipowner and operator Diana Shipping (DSX) consistently adheres to its policy. This policy involves chartering its bulk carriers on period deals that have staggered end dates, ensuring stability and predictability for the firm. 17-July-2019
Athens-based New York-listed shipowner and operator Diana Shipping (DSX) has revised its share tender offer in light of its surging stock price. The shipowner increased the tender pricing by 15%, from $3.25 to $3.75 per share. This adjustment comes as Diana Shipping’s shares are trading at $3.73 on the New York Stock Exchange, noticeably higher than the initial tender price. Originally, the tender offer was set to conclude on 16 July 2019. However, it has been extended and is now expected to end on 25 July 2019 at the close of trading in New York. It’s essential to note that share buyback programs, like the one Diana Shipping is conducting, are not direct investments in the firm’s operations. Over the last month, Diana Shipping’s share price has seen an impressive 25% increase. Diana Shipping, a shipowner and operator based in Athens and listed in New York, initiated this tender offer on 14 June 2019. Through this offer, Greek shipowner and operator Diana Shipping (DSX) intends to repurchase two million shares, equivalent to 2% of its outstanding common stock. 12-July-2019
Uniper Global Commodities extended panamax bulk carrier charter by around a year. Uniper Global Commodities extended existing time chartered 2014 built panamax bulk carrier 77K DWT MV Atalandi from Diana Shipping at $12,250 per day. Previously, Uniper Global Commodities was paying 10% more per day. MV Atalandi employment is anticipated to generate approximately $4 million of gross revenue to New York-listed Diana Shipping. Panamax bulk carriers time charter spot rates are climbing. In April 2018, Germany based commodity trader Uniper Global Commodities chartered in ice-class panamax bulk carrier 77K DWT MV Atalandi from Diana Shipping for $13,500 per day. Recently, New York-listed Diana Shipping started a tender offer to buy back shares. 1-July-2019
Simeon Palios led Greek shipowner Diana Shipping chartered out 2007 built capesize dry bulk carrier 174K DWT MV Semirio to giant Swiss commodity trader Cargill for $16K per day. Diana Shipping chartered out capesize dry bulk carrier when capesize rates are on an upward trend. Cargill chartered in capesize dry bulk carrier 174K DWT MV Semirio for 15 months which will produce gross expected revenue of $7.2 million. Currently, the Average Time Charter rate on a one-year fixture for 170K DWT capesize dry bulk carrier has increased 44% to $17,250 per day since April 2019. In March 2019, Greek shipowner Diana Shipping chartered out another 2005 built capesize dry bulk carrier 171K DWT MV Salt Lake City for two-year period to Cargill. Simeon Palios led Greek shipowner Diana Shipping has a fleet of 44 dry bulk carriers. 30-June-2019
Athens-headquartered and New York-listed Diana Shipping (DSX) has secured time charter contracts for two of its capesize bulk carriers with Singapore Marine and Oldendorff Carriers. From these agreements, Diana Shipping anticipates generating a total revenue of approximately $17.9 million. Greek shipowner and operator Diana Shipping (DSX) has entered into a charter contract with Singapore Marine for the 2010-built capesize bulk carrier MV New York, which has a deadweight tonnage (DWT) of 177K. The charter, which started on Friday, is set to last between 17 to 19 months at a daily rate of $15,500. In a separate agreement, Diana Shipping (DSX) signed a charterparty with Oldendorff Carriers for the 2007-built capesize bulk carrier MV Boston, also with a 177K DWT. This charter began on the same day and is slated to last until at least 1 April 2021, with the possibility of an extension until 30 June 2021. The agreed daily rate for MV Boston stands at $15,300. The combined gross revenue expected from both these charters, for their minimum durations, is around $17.9 million. Currently, Athens-based New York-listed shipowner and operator Diana Shipping (DSX) owns and operates a fleet of 45 dry bulk carriers. 9-June-2019
Athens-based, New York-listed shipowner Diana Shipping (DSX) is ensuring that all shareholders participating in its buyback offer receive an equitable deal, especially given the oversubscription of shares. While the Greek shipowner and operator Diana Shipping (DSX) had 5.9 million shares offered for resale, they aimed to buy back only up to 3.1 million units. To ensure fairness, Diana Shipping (DSX) is prorating its buyback. This means that instead of buying back all the shares from a few shareholders and leaving others out, they will repurchase a particular percentage from each tendering shareholder. This approach guarantees that every participant can sell at least a portion of their shares. The repurchased shares are priced at $3.40 each, leading to a cumulative repurchase value of $10.6 million. Initially, on 15 April, the buyback was proposed at $3.20 per share with a cutoff date of 13 May. However, Diana Shipping (DSX) later extended the deadline and increased the share price offer by $0.20. 28-May-2019
Diana Shipping (DSX), an Athens-based shipowner and operator listed in New York, has further cemented its relationship with Singapore’s Koch Shipping, signing its third charter agreement this year with the company. The Greek shipowner has now agreed to a time charter contract for one of its capesize bulk carriers, the 2005 built MV Baltimore, boasting a 177K DWT. The agreement, which starts on Sunday, is set at $15,000 per day for a duration of 19 to 22 months. This contract is expected to generate an estimated revenue of roughly $8.3 million for its minimum duration. Earlier this year, Greek shipowner and operator Diana Shipping (DSX) entered into a similar length contract with Koch Shipping for another one of its vessels, the newcastlemax bulk carrier San Francisco, which has a 208K DWT and was built in 2017. This followed a 14 to 17-month agreement in February for the capesize bulk carrier Houston, a 177K DWT vessel built in 2009. Currently, Athens-based New York-listed shipowner and operator Diana Shipping’s (DSX) fleet comprises 45 dry bulk carriers. 21-May-2019
Diana Shipping (DSX), a company led by Simeon Palios, experienced a notable surge in stock prices today, driven by strategic adjustments making its shares more appealing for resale, according to industry analysts. Athens-based New York-listed shipowner and operator Diana Shipping’s (DSX) stock saw a 10.3% increase, closing at $3.31. This uptick followed their announcement to both extend the tender offer deadline from last month and enhance the share price. Specifically, Greek shipowner and operator Diana Shipping (DSX) raised the price for 3.13 million shares by $0.20, settling at $3.40, and extended the tender’s concluding date by a fortnight to 28 May. Although it’s not given for stock prices to respond positively to such adjustments, this significant movement is logical given that the new price represents a 13% increment from the previous day’s closing value. Concurrently, the Time Charter Equivalent (TCE) rates for dry bulk shipping have experienced a gradual increase over the recent fortnight, rising to $9,153 per day from the prior rate of $8,845 for supramax bulk carriers. 13-May-2019
Diana Shipping (DSX), a Greek shipowner and operator, reported financial results showcasing a shift in fortunes from the previous year. The company registered a profit of $1.5 million attributable to common shareholders for the period, a significant turnaround from the $4.5 million loss reported in the same timeframe a year prior. However, the earnings per share stood at $0.02, which fell short of analysts’ expectations by the same amount. This period’s revenue witnessed an increase, reaching $60.3 million as compared to the previous year’s $48.4 million. This revenue surge can be attributed to the higher average time charter rates. However, this was somewhat offset by the decreased revenue resulting from the sale of two ships in December 2018. These ships were the MV Alcyon (built 2001) and the MV Triton (built 2001), sold for $7.4 million and $7.3 million, respectively. Further indicating the volatility of the shipping market, the Time Charter Equivalent (TCE) rates reported an increase, moving from $10,416 in the previous year to $13,453 in the current period. Athens-based New York-listed shipowner and operator Diana Shipping (DSX) has been proactive in its fleet management strategy. In mid-February, Diana Shipping (DSX) announced their intentions to sell two panamax bulk carriers, the MV Danae and MV Dione, both built in 2001, at a selling price of $7.2 million each. Furthermore, an agreement was reached on 10 April to offload the 2004-built panamax bulk carrier, MV Erato, by 10 June 2019. 9-May-2019
Athens-based New York-listed shipowner and operator, Diana Shipping (DSX), is expanding its partnership with Ausca Shipping by adding another panamax to their list of active fixtures. Diana Shipping (DSX) announced its entry into a time charter agreement with Ausca Shipping, a Hong Kong-based firm, for its 2007-built panamax bulk carrier, the MV Arethusa, which has a deadweight tonnage of 73K. For this deal, Diana Shipping (DSX) will be receiving a daily rate of $9,150, and the agreement is slated to last for a minimum period of 12 months and can extend up to 15 months. Over the minimum contract period, Diana Shipping (DSX) is set to earn a gross revenue of approximately $3.2 million. This is not the first time Diana Shipping (DSX) is doing business with Ausca Shipping. They have already fixed three other panamax bulk carriers with the Hong Kong firm. These vessels include:
- MV Clio, built in 2005, with a deadweight of 73,691 tons.
- MV Artemis, built in 2006, with a deadweight of 76,942 tons.
- MV Dione, built in 2001, with a deadweight of 75,172 tons.
This continued collaboration signifies the strong business relationship between Diana Shipping (DSX) and Ausca Shipping. 3-May-2019
Simeon Palios-led New York-listed dry bulk shipowner and operator Diana Shipping chartered out 2010 kamsarmax dry bulk carrier 82K DWT MV Myrsini at $12,750 per day for 10 to 12 months to Glencore Agriculture. Diana Shipping is expected to earn around $3.83 million in revenue. Daily time charter rates for kamsarmax dry bulk carriers are averaging $14,500. Previously, 82K DWT MV Myrsini was chartered out to German electric and gas supplier RWE at $8,650 per day. 24-December-2018
New York-listed shipowner and operator Diana Shipping chartered out 2012 built baby capesize dry bulk carrier 98K DWT MV Polymnia to Cargill $16,000 per day for about 17 months. Last year, the world’s largest grain trader Cargill was paying $10,100 per day for MV Polymnia and the new charter rate increased by 60%. MV Polymnia will generate about $6.72 million in gross revenue for the New York-listed shipowner and operator Diana Shipping. Baltic Dry Index is currently around 1422 which is just shy of the 2018 high. Currently, panamax dry bulk carriers are earning around $14,550 per day. 2-July-2018
US-listed Diana Shipping chartered out capesize dry bulk carrier to US giant Koch Shipping. Simeon Palios led Diana Shipping chartered out 2013 built capesize dry bulk carrier 179K DWT MV PS Palios for $17,350 per day for about 13 to 15 months. Previously, on May 10 Diana Shipping chartered out another newcastlemax dry bulk carrier to Koch for $24,000 per day. The latest capesize charter will bring an income of around $6.51 million for the minimum period of the charter. According to the Baltic Exchange capesize dry bulk carrier rates fell to $13,867 per day this week. Until so far this year, the lowest capesize dry bulk carrier rate was $7,051 per day on 5 April 2018. US-listed Greek shipowner Diana Shipping’s fleet consists of 50 dry bulk carriers. The total carrying capacity of Diana Shipping’s fleet is approximately 5.8 million DWT. Diana Shipping’s fleet average age is 8.75 years. 22-May-2018
US-listed Diana Shipping chartered out 2013 built kamsarmax dry bulk carrier 82K DWT MV Mytro at $14,000 per day for a year period to giant American grain trader Cargill. Previously, Diana Shipping chartered out MV Mytro at $8,000 per day for a year for fifteen months. In 2012, US-listed Diana Shipping acquired MV Mytro for $26.5 million. 16-April-2018
Greek shipowner and operator Diana Shipping chartered out 2005 built capesize dry bulk carrier 180K DWT MV Aliki for $18,000 per day for 2 years to SwissMarine. New York-listed Diana Shipping is going to earn $10.8 million in gross revenue for chartering out MV Aliki for 2 years to Glencore-backed charterer and operator SwissMarine. SwissMarine hired the same capesize dry bulk carrier MV Aliki in 2017 for $10,300 per day. In Q1 2018, SwissMarine has chartered in 6 capesize dry bulk carriers for the period. 27-March-2018
New York listed Diana Shipping chartered out 2015 built capesize dry bulk carrier 180K DWT MV New Orleans at $21,000 per day to SwissMarine for a year. Capesize dry bulk carrier time-charter rates break above the $20,000 per day mark for the second time in Q1 2018. Previously, MV New Orleans was chartered out to Koch Shipping for $11,250 per day. Meanwhile, Koch Shipping chartered in 2013 built capesize dry bulk carrier 206K DWT MV FPMC B Kingdom for 10 months at $21,300 per day. According to Clarksons database one-year period capesize time-charter rates at $20,375 per day. Capesize spot voyage rates still remain on the mat for 2018, having fallen nearly 70% since mid-December 2017 to an average of $8,880 per day currently. Capzesize weakness in the spot market comes as Brazilian mining giant Vale iron ore exports dropped 11 million tonnes in the first 11 weeks of 2018 compared to the year-earlier period due to weather and port maintenance activity. Chinese import activity was also decreased for the period straddling through the end of the Chinese New Year. Capzesize weakness in the spot market is also due to current stockpiles in China. Chinese’s National Bureau of Statistics shows construction demand to be robust in January and February of 2018. Capzesize dry bulk market current softness in Chinese demand is temporary, demand will pick up in the coming months of 2018. 22-March-2018
US-listed shipowner and operator Diana Shipping chartered out 2007 built capesize dry bulk carrier 177K DWT MV Boston to EGBN Bulk Carrier at $17,000 per day for 16 to 19 months. 20-December-2017
US-listed shipowner and operator Diana Shipping chartered out 1 kamsarmax dry bulk carrier and 2 panamax dry bulk carriers. Diana Shipping chartered out 2010 built 82K DWT M/V Medusa to Cargill for a year for $10,000 per day. Diana Shipping chartered out 2006 built 76K DWT M/V Artemis to Ausca Shipping for a year for $8,350 per day. Diana Shipping also chartered out 2004 built 73K DWT M/V Thetis to Ausca Shipping for a year for $8,350 per day. Diana Shipping will approximately earn around $9.85 million from these charters. 12-July-2017
Greek shipowner and operator Diana Shipping has chartered out panamax dry bulk carrier 2004 built 73K M/V Protefs at $7,900 per day for a year to Hudson Shipping. Previously, M/V Protefs was chartered out to Transgrain Shipping at $4,500 per day. Greek shipowner and operator Diana Shipping will generate around $2.84 million of gross income. Baltic Dry Index daily rate for panamax dry bulk carriers is $8,151. 20-June-2017
Greek shipowner and operator Diana Shipping chartered out 2010 built capesize dry carrier 178K DWT M/V New York at for 6 months at $14,450 per day to US-based Koch Shipping. In 2016, M/V New York was chartered out to Rio Tinto for 1 year at $5,200 per day. 7-May-2017
JP Morgan analysts commented about the latest dry bulk index recovery and says dry cargo recovery is real. According to JP Morgan analysts, dry bulk rates will increase and strengthen. JP Morgan analysts commented that new sulfur emissions regulations arriving in three years’ time and a major slice of the fleet hitting scrap age early in the next decade as providing dry bulk significant tailwinds in the 2020s. JP Morgan upgraded New York-listed Diana Shipping and Golden Ocean to overweight. JP Morgan analysts mentioned that Diana Shipping is still undervalued. 9-April-2017
New York-listed shipowner Diana Shipping chartered out 2011 built panamax dry bulk carrier 75K DWT M/V Diona for $7,200 per day on 1-year charter. $7,200 per day is in line with present spot market conditions for panamax dry bulk carriers. 2-March-2017
New York-listed Diana Shipping has chartered out 2013 built panamax dry bulk carrier 77K DWT M/V Ismene to Glencore at $5,850 per day for a year. MV Ismene was earning $7,825 per day previously from Glencore for the past 3 months. 21-August-2016
Greek bulk owner Diana Shipping chartered out a 2013 built panamax bulk carrier 77K DWT M/V Ismene to Glencore for $5,850 per day for one year. In March 2016, Glencore chartered in M/V Ismene for a daily rate of $7,825. 12-August-2016
Diana Shipping has fixed out 2004 built panamax bulk carrier M/V Protefs 73K DWT to Transgrain for a year at $4,500 per day. M/V Protefs was earning $6,250 per day from Glencore in 2015. Shorter panamax charter rates of five to eight months is paying a bit more. 2015 built bulk carrier 82K DWT M/V Pedhoulas Cherry has been fixed at $5,500 per day. Spot rates for panamax bulk carriers were also unchanged standing at $2,800 per day midweek. 29-February-2016