Diana Shipping

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

 

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) appointed Semiramis Paliou, the daughter of Simeon Palios, as the new CEO (Chief Executive Officer). In 1972, Simeon Palios established Diana Shipping Agencies, Diana Shipping’s predecessor. In 2005, Simeon Palios established Diana Shipping and has since then worked as CEO and chairman. Semiramis Paliou has served as a director of Diana Shipping since March 2015 and its chief operating officer since August 2018. In October 2019, Semiramis Paliou was appointed as deputy CEO of Diana Shipping. Furthermore, Semiramis Paliou served as chief operating officer of Diana Shipping’s sister company, containership owner Performance Shipping. In 1996, Semiramis Paliou started her career in shipping as a traineeship surveyor for Lloyd’s Register of Shipping (LR). Semiramis Paliou has worked as head of operations, technical and crew department in Diana Shipping Services. Simeon Palios will remain as non-executive chairman when Semiramis Paliou assumes the CEO (Chief Executive Officer) role, effective on 1 March 2021. Diana Shipping (DSX) reported a net loss of $140 million in 2020. Currently, New York-listed shipowner and operator Diana Shipping (DSX) has a fleet of 37 bulk carriers. 21-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

 

Athens-based New York-listed shipowner and operator Diana Shipping (DSX) has secured a charter for one of its prominent capesize vessels to Oldendorff Carriers, albeit at a diminished rate compared to the previous agreement with Berge Bulk Shipping. Under the vigilant guidance of Simeon Palios, Diana Shipping (DSX) has formalized a time charter accord with Oldendorff, concerning the 174,186 DWT capesize vessel, MV Sideris (constructed in 2006). The arrangement, which begins at $12,700 daily, spans from 15 October to a possible extension until 31 December. The embarkation of this charter is slated for 8 March, with projected revenue approximations hovering around $2.76 million for the New York-registered Hellenic maritime entity, Diana Shipping (DSX). It’s noteworthy that Diana Shipping (DSX) had previously secured an agreement for the aforementioned vessel with Berge Bulk, priced at $15,350 daily over a 15-month duration. As per the Baltic Exchange’s recent data, the capesize bulk carriers’ weighted time charter average stands at $2,542, juxtaposed with the $15,194 daily rate recorded at December’s end in 2018. Following the successful conclusion of a prior sale involving a capesize bulk carrier, Diana Shipping (DSX) will proudly command a fleet comprising 41 dry bulk vessels. A mere week prior, Diana Shipping (DSX) unveiled a strategic leadership realignment within its affiliate, Performance Shipping, heralding the impending segregation of the two establishments. 5-March-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:

1. MV Clio, built in 2005, with a deadweight of 73,691 tons.
2. MV Artemis, built in 2006, with a deadweight of 76,942 tons.
3. 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