Diana Shipping Executes $22.9M Share Buyback, $20.60 Genco Bid, Secures $154M in 2026 Revenue
Diana Shipping repurchased 11.5 million shares for $22.9 million and sold two vessels for $23.7 million, drawing a $55 million term loan to refinance its fleet of 36 vessels. It also acquired 14.8% of Genco at $20.60 per share and secured $154.4 million of 2026 contracted revenues at an average $17,700/day (break-even $16,800/day).
1. Fourth Quarter and Year-End 2025 Results Release Scheduled
Diana Shipping Inc. will release its financial results for the quarter and year ended December 31, 2025 before U.S. markets open on Thursday, February 26, 2026. Management will host a conference call and simultaneous webcast at 9:00 A.M. Eastern Time to review these results. Investors can access the live webcast and accompanying presentation on the Company’s website, and dial in via dedicated U.S. and international numbers. A replay of the webcast and a telephone replay will be available for 30 days following the call.
2. Extension of Time Charter for m/v Amphitrite
Through a wholly owned subsidiary, Diana Shipping has extended the time charter of its 98,697 dwt Post-Panamax vessel m/v Amphitrite with Cobelfret S.A. at a gross rate of US$13,000 per day (first 30 days) and US$16,500 per day (remainder), each net of a 5% commission. The charter period runs from February 8, 2026 through a minimum of March 1, 2027 and a maximum of April 30, 2027, and is expected to generate approximately US$6.15 million of gross revenue over the minimum term.
3. Capital Link Conference Highlights: Fleet, Capital Allocation and Outlook
At the Capital Link webinar, management reported that as of January 26, 2026, Diana Shipping’s fleet consisted of 36 dry bulk vessels with a combined carrying capacity above 4.1 million dwt, a weighted average age of 12.17 years and utilization of 99.5% through September 2025. In the first nine months of 2025, the Company carried over 17.5 million tons and repurchased nearly 11.5 million common shares for US$22.9 million. Asset sales totaled US$23.7 million and the Company drew down a US$55 million vessel-secured term loan. Diana Shipping acquired a 14.8% stake in Genco Shipping & Trading and proposed to acquire the remainder, backed by financing commitments up to US$1.1 billion. Contracted revenues cover 71% of 2026 ownership days (US$154.4 million) and 6% of 2027 days (US$14.5 million), with average fixed charter rates of about US$17,700 per day and cash break-even at approximately US$16,800 per day. Decarbonization measures, including hull coatings and speed optimization, have improved fleet efficiency by nearly 15%, and cumulative dividends since 2021 total US$2.69 per share.