Core Viewpoint - Diana Shipping Inc. has entered into a time charter contract with Cargill International SA for its Kamsarmax dry bulk vessel, the m/v Medusa, with a gross charter rate of US$13,000 per day, expected to generate approximately US$5.46 million in gross revenue for the minimum charter period [1][2]. Group 1: Charter Agreement Details - The time charter for the m/v Medusa is set to commence on March 15, 2025, and will last until at least May 15, 2026, with a maximum end date of July 15, 2026 [1]. - The charter rate is subject to a 4.75% commission paid to third parties [1]. Group 2: Fleet Composition and Future Plans - Following the sale of the m/v Alcmene, Diana Shipping Inc.'s fleet will consist of 37 dry bulk vessels, including various classes such as Newcastlemax, Capesize, Post-Panamax, Kamsarmax, Panamax, and Ultramax [3]. - The company anticipates taking delivery of two methanol dual fuel new-building Kamsarmax dry bulk vessels by the second half of 2027 and the first half of 2028 [3]. - The current fleet has a combined carrying capacity of approximately 4.2 million dwt and a weighted average age of 11.45 years [3]. Group 3: Company Overview - Diana Shipping Inc. is a global provider of shipping transportation services, specializing in the ownership and bareboat charter-in of dry bulk vessels [4]. - The company's vessels primarily engage in short to medium-term time charters, transporting a variety of dry bulk cargoes, including iron ore, coal, and grain [4].

Financial Data and Key Metrics Changes - For Q4 2024, revenue was $57.1 million, a decrease of about 5% from $60 million in Q4 2023 [18] - Adjusted EBITDA for Q4 2024 was $25.9 million, down from $27.1 million in the same quarter last year [18] - Net income increased to $9.7 million from $9.4 million in Q4 2023, primarily due to decreased interest expenses and increased gains from non-operating activities [19] - Cash reserves at the end of 2024 were $207.2 million, up from $161.6 million at the end of 2023 [20] - Long-term debt decreased to $637.5 million from $642.8 million year-over-year, a decrease of around 1% [20] Business Line Data and Key Metrics Changes - Fleet utilization remained high at 99.7% for both Q4 2024 and Q4 2023 [22] - Time charter equivalent for Q4 2024 increased to $15,589 compared to $15,162 in Q4 2023 [22] - For the full year 2024, revenues were $228.2 million, down from $262.1 million in 2023, attributed to decreased average rates and fewer vessels [23] Market Data and Key Metrics Changes - The Baltic Dry Index fluctuated significantly, peaking at 2,419 in March 2024 and dropping to 715 by the end of January 2025 [29] - Time charter rates for Capesize vessels dropped from a high of $25,000 per day in March 2024 to $18,000 per day in January 2025 [29] - Grain shipments are expected to grow by about 2% during the 2025 grain season, following a 3% increase in 2024 [35] Company Strategy and Development Direction - The company is focused on a disciplined chartering strategy to ensure earnings visibility and resilience against market downturns [16] - Diana Shipping is committed to ongoing fleet modernization and sustainability initiatives, including eco-friendly technologies [50][51] - The company anticipates the delivery of two methanol dual fuel newbuilding Kamsarmax dry bulk vessels by early 2028 [9] Management's Comments on Operating Environment and Future Outlook - Management noted that 2024 was a year of two halves, with strong performance in the first half followed by softer conditions [6] - The forward curve for charter rates remains in steep contango, allowing the company to secure charters at significant premiums [7] - The dry bulk market is expected to face volatility, with modest supply growth and demand growth anticipated to be around 1% in 2025 [37][46] Other Important Information - The company declared a quarterly cash dividend of $0.01 per common share for Q4 2024, totaling approximately $1.1 million [15] - The company repurchased 11,442,645 common shares at $2 per share in December 2024 [13] - As of February 19, 2025, the company secured revenues for 63% of the remaining ownership days of 2025, amounting to approximately $125 million [14] Q&A Session Summary - No questions were raised during the Q&A session, and the call concluded without further inquiries [54]

We create to share Financial Results for the 4 th Quarter of 2024 February 25, 2025 Our Presenting Team Semiramis Paliou Director & Chief Executive Officer Anastasios Margaronis Director & President Eleftherios Papatrifon Director Director, Co-Chief Financial Officer, Chief Strategy Officer, Secretary & Treasurer Our Company's confidence stems from our established track record Co-Chief Financial Officer We create to share 2 Ioannis Zafirakis Maria Dede Financial Results for the 4th Quarter of 2024 We create ...

ATHENS, Greece, Feb. 25, 2025 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today reported net income of $9.7 million and a net income attributed to common stockholders of $8.3 million for the fourth quarter of 2024. This compares to net income of $9.4 million and net income attributed to common stockholders of $7.9 million for the fourth quarter of 2023. Earnings per share for the fo ...

ATHENS, Greece, Feb. 19, 2025 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that through a separate wholly-owned subsidiary, it has entered into a time charter contract with Cargill International SA, Geneva, for one of its Kamsarmax dry bulk vessels, the m/v Myrsini. The gross charter rate is US$13,000 per day, minus a 4.75% commission paid to third parties, for a peri ...

ATHENS, Greece, Feb. 18, 2025 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that its financial results for the fourth quarter and year ended December 31, 2024 are scheduled to be released before the opening of the U.S. financial markets on Tuesday, February 25, 2025. The Company’s management will conduct a conference call and simultaneous Internet webcast to review the ...

ATHENS, Greece, Feb. 12, 2025 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party, the 2010-built Post-Panamax vessel “Alcmene”, with delivery to the buyer latest by March 7, 2025, for a sale price of approximately US$11.9 million before commission ...

Charter Contract Extensions - Diana Shipping Inc has extended the time charter contract for the Capesize dry bulk vessel m/v Semirio with Solebay Shipping Cape Company Limited at a gross charter rate of US$16,650 per day minus a 5% commission, effective from February 4, 2025, until a period between February 15, 2026, and April 15, 2026 [1] - The m/v Semirio is currently chartered at a gross rate of US$14,150 per day minus a 5% commission [1] - The company has also extended the time charter contract for the Ultramax dry bulk vessel m/v DSI Aquila with Western Bulk Carriers AS at a gross charter rate of US$12,250 per day minus a 5% commission, effective from January 23, 2025, for a period of 5 to 7 months [3] - The m/v DSI Aquila is currently chartered at a gross rate of US$12,500 per day minus a 5% commission [3] - The employment extensions of m/v Semirio and m/v DSI Aquila are expected to generate approximately US$7.52 million in gross revenue for the minimum scheduled period of the time charters [4] Fleet Details - The m/v Semirio is a 174,261 dwt Capesize dry bulk vessel built in 2007 [2] - The m/v DSI Aquila is a 60,309 dwt Ultramax dry bulk vessel built in 2015 [4] - Diana Shipping Inc's fleet consists of 38 dry bulk vessels, including 4 Newcastlemax, 8 Capesize, 5 Post-Panamax, 6 Kamsarmax, 6 Panamax, and 9 Ultramax vessels [5] - The company expects to take delivery of two methanol dual-fuel Kamsarmax dry bulk vessels by the second half of 2027 and the first half of 2028 [5] - The combined carrying capacity of the fleet, excluding the two vessels not yet delivered, is approximately 4.2 million dwt with a weighted average age of 11.29 years [5] Company Overview - Diana Shipping Inc is a global provider of shipping transportation services through its ownership and bareboat charter-in of dry bulk vessels [6] - The company's vessels are primarily employed on short to medium-term time charters and transport dry bulk cargoes such as iron ore, coal, grain, and other materials along worldwide shipping routes [6]

Charter Contract Details - Diana Shipping Inc has entered into a time charter contract with SwissMarine Pte Ltd for its Capesize dry bulk vessel, the m/v New York The gross charter rate is US$6,300 per day for the first trip and US$17,600 per day for the balance period, minus a 5% commission The charter period is from January 12, 2025, to a minimum of January 15, 2026, and a maximum of March 30, 2026 [1] - The m/v New York is a 177,773 dwt Capesize dry bulk vessel built in 2010 The employment of this vessel is expected to generate approximately US$6.03 million in gross revenue for the minimum scheduled period of the time charter [2] Fleet Overview - Diana Shipping Inc's fleet consists of 38 dry bulk vessels, including 4 Newcastlemax, 8 Capesize, 5 Post-Panamax, 6 Kamsarmax, 6 Panamax, and 9 Ultramax The combined carrying capacity of the fleet is approximately 4.2 million dwt, with a weighted average age of 11.28 years [3] - The company expects to take delivery of two methanol dual fuel new-building Kamsarmax dry bulk vessels by the second half of 2027 and the first half of 2028 [3] Company Background - Diana Shipping Inc is a global provider of shipping transportation services, specializing in the ownership and bareboat charter-in of dry bulk vessels The company's vessels are primarily employed on short to medium-term time charters, transporting dry bulk cargoes such as iron ore, coal, grain, and other materials along worldwide shipping routes [4]

Tender Offer Results - Diana Shipping Inc announced the final results of its tender offer to purchase up to 15,000,000 shares of its common stock at a price of US$2 00 per share, with the offer expiring on December 31, 2024 [1] - A total of 11,442,645 shares were tendered, resulting in an aggregate purchase price of US$22,885,290 as the offer was undersubscribed [2] Company Overview - Diana Shipping Inc is a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels [3] - The company's vessels are primarily employed on short to medium-term time charters, transporting dry bulk cargoes such as iron ore, coal, grain, and other materials along worldwide shipping routes [3] Forward-Looking Statements - The press release contains forward-looking statements regarding the company's plans, objectives, goals, strategies, future events, and performance [4][5] - These statements are based on various assumptions, including historical operating trends, company records, and third-party data, but are subject to significant uncertainties and contingencies [6] - Factors that could cause actual results to differ include world economic strength, currency fluctuations, charter rate and vessel value changes, demand for dry bulk shipping capacity, operating expenses, financing availability, regulatory changes, political conditions, and potential disruptions to shipping routes [7]