Diana Shipping Repurchases 11.5M Shares, Secures $154M 2026 Revenue, Proposes $20.60 Genco Bid
At a Capital Link webinar, Diana Shipping repurchased 11.5 million shares for $22.9 million and increased its Genco stake to 14.8%, proposing a $20.60 per-share bid backed by $1.1 billion financing. The company secured $154.4 million in 2026 contracted revenues (71% ownership days) and reported a $16,800 cash break-even rate.
1. Fourth Quarter and Full Year 2025 Results Announcement Scheduled for February 26, 2026
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 the company’s performance, including operating revenues, charter coverage, and vessel utilization metrics. Investors can access the live and archived webcast on www.dianashippinginc.com, and dial in via dedicated U.S. and international toll-free numbers. A replay of the call will be available by telephone and webcast for 30 days following the event.
2. m/v Amphitrite Time Charter Extended Through Early 2027
Through a wholly-owned subsidiary, Diana Shipping extended the time charter of its 98,697 dwt Post-Panamax vessel m/v Amphitrite with Cobelfret S.A. The new charter commences on February 8, 2026, and runs until at least March 1, 2027, with an option to extend through April 30, 2027. The contract affords 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% broker commission. The extension is expected to generate approximately US$6.15 million of gross revenue over the minimum charter period.
3. Capital Link Webinar Highlights Buybacks, Genco Proposal and Decarbonization Roadmap
In a January corporate presentation, Diana Shipping disclosed that during the first nine months of 2025 it repurchased nearly 11.5 million shares for US$22.9 million, sold two vessels for about US$23.7 million and drew US$55 million under a term loan secured by five ships. The company reported a fleet of 36 dry bulk vessels with average age of 12.17 years and 99.5% utilization, carrying capacity above 4.0 million dwt, plus two dual-fuel Kamsarmax newbuilds due by early 2028. Management also revealed a 14.8% stake in Genco Shipping & Trading Limited and a US$20.60 per share all-cash proposal to acquire the remainder of Genco, supported by US$1.1 billion in committed bank financing. On sustainability, Diana Shipping has improved fleet efficiency by nearly 15% through speed optimization, biofuel trials and hull-coating upgrades, and plans to deploy two methanol-dual fuel vessels and phase out older tonnage to meet evolving decarbonization standards.