Diana Shipping warns may reassess USD 27.34-a-share bid for Genco after fleet value drop
DSX•Diana Shipping keeps Genco bid in place
Diana Shipping is pressing to acquire Genco Shipping & Trading, keeping its offer of USD 27.34 per share on the table.
Fleet value decline puts pressure on the proposal
The proposal is being framed against a recent pullback in Genco fleet values, with VesselsValue data showing a USD 50 million decline.
VesselsValue puts Genco fleet value at USD 1.43 billion on July 28, down 3.4% from a USD 1.48 billion peak in early June 2026.
Diana argues Genco shifted away from VesselsValue-based NAV metrics to higher broker estimates once the approach was launched.
Diana warned that continued value erosion in a softening dry bulk market could prompt a reassessment of the offer price.
