Diana Shipping Extends Amphitrite Charter, Launches $22.9M Buyback and Genco Bid
Diana Shipping extended the m/v Amphitrite charter through April 30, 2027 at gross rates of US$13,000/day (first 30 days) and US$16,500/day thereafter (minus 5% commission), securing a minimum $6.15 million revenue. In February, management disclosed 2025 repurchases of 11.5 million shares for $22.9 million plus a 14.8% Genco stake and $20.60/share buyout offer.
1. Financial Results Release and Webcast Scheduled for February 26, 2026
Diana Shipping Inc. has announced that its fourth quarter and full-year 2025 results will be released before U.S. market open on Thursday, February 26, 2026. Management will host a conference call and simultaneous webcast at 9:00 A.M. Eastern Time that day to review operating performance, charter revenues and balance sheet developments. Investors can access the live webcast via the Company’s website, where an accompanying presentation will be posted, or dial in using U.S. and international toll-free numbers. A replay of both the webcast and the dial-in call will be available for 30 days following the event.
2. Time Charter Extension for m/v Amphitrite Boosts Contracted Revenue by US$6.15 Million
Through a wholly-owned subsidiary, Diana Shipping extended the time charter with Cobelfret S.A. for the 98,697 dwt Post-Panamax vessel m/v Amphitrite. The new charter, commencing February 8, 2026, carries a gross rate of US$13,000 per day for the first 30 days and US$16,500 per day thereafter, each net of a 5% commission, for a period running to a minimum of March 1, 2027 and a maximum of April 30, 2027. This extension is expected to generate approximately US$6.15 million of gross revenue over the minimum term, enhancing coverage of fleet cashflows into 2027.
3. Capital Link Presentation Highlights Buybacks, Genco Bid and Fleet Metrics
In a January 2026 Capital Link webinar, Diana Shipping’s management detailed 2025 capital allocation, including the repurchase of 11.5 million shares for US$22.9 million and vessel sales raising US$23.7 million. The Company drew a US$55 million term loan facility and acquired 14.8% of Genco Shipping & Trading, later submitting a US$20.60-per-share all-cash proposal for the remaining shares, backed by US$1.1 billion in committed financing. Fleet metrics were underscored: 36 owned vessels with two methanol dual-fuel Kamsarmax newbuildings on order, a combined capacity of approximately 4.1 million dwt, average age of 12.19 years and 99.5% utilization through September. Management reported US$154.4 million of contracted revenues covering 71% of 2026 ownership days and projected a positive cash contribution based on forward freight agreements for unfixed days.