ATHENS, Greece, July 30, 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 $4.5 million and net income attributable to common stockholders of $3.1 million for the second quarter of 2025. This compares to a net loss of $2.8 million and a net loss attributable to common stockholders of $4.2 million for the second quarter of 2024. Earnings per share for the second quarter of 2025 were $0.03 basic and diluted, compared to loss per share of $0.04 basic and diluted in the same quarter of 2024.
Time charter revenues were $54.7 million for the second quarter of 2025, compared to $56.0 million for the same quarter of 2024. The decrease in time charter revenues, compared to the same quarter last year, was due to decreased ownership days and was partly offset by increased average charter rates.
Net income for the six months ended June 30, 2025, amounted to $7.5 million and net income attributable to common stockholders amounted to $4.7 million. This compares to a net loss of $0.7 million and a net loss attributable to common stockholders of $3.6 million for the same period in 2024. Time charter revenues for the six months ended June 30, 2025, were $109.6 million, compared to $113.6 million for the same period in 2024. Earnings per share for the six months ended June 30, 2025 were $0.04 basic and diluted, compared to a loss per share of $0.03 basic and diluted for the same period in 2024.
Dividend Declaration
The Company has declared a cash dividend on its common stock of $0.01 per share, based on the Company’s results of operations during the quarter ended June 30, 2025. The cash dividend will be payable on September 11, 2025, to all common shareholders of record as of August 21, 2025. As of July 29, 2025, the Company has 115,775,463 common shares issued and outstanding and there were 16,211,330 outstanding warrants.
| Fleet Employment (As of July 29, 2025) | ||||||||||
| VESSEL | SISTER SHIPS* | GROSS RATE (USD PER DAY) | COM** | CHARTERERS | DELIVERY DATE TO CHARTERERS*** | REDELIVERY DATE TO OWNERS**** | NOTES | |||
| BUILT DWT | ||||||||||
| 9 Ultramax Bulk Carriers | ||||||||||
| 1 | DSI Phoenix | A | 16,500 | 5.00 | % | Bulk Trading SA | 6/May/2024 | 3/Aug/2025 | 1 | |
| 2017 60,456 | 13,500 | 4.75 | % | Cargill Ocean Transportation (Singapore) Pte. Ltd. | 3/Aug/2025 | 1/Oct/2026 – 30/Nov/2026 | 2 | |||
| 2 | DSI Pollux | A | 14,000 | 4.75 | % | Cargill Ocean Transportation (Singapore) Pte. Ltd. | 28/Dec/2023 | 20/Aug/2025 – 20/Oct/2025 | ||
| 2015 60,446 | ||||||||||
| 3 | DSI Pyxis | A | 13,100 | 5.00 | % | Stone Shipping Ltd. | 8/Nov/2024 | 20/Feb/2026 – 20/Apr/2026 | ||
| 2018 60,362 | ||||||||||
| 4 | DSI Polaris | A | 15,400 | 5.00 | % | Stone Shipping Ltd. | 20/Jul/2024 | 1/Jul/2025 | ||
| 2018 60,404 | 12,250 | 4.75 | % | Cargill Ocean Transportation (Singapore) Pte. Ltd. | 1/Jul/2025 | 21/Jul/2026 – 21/Sep/2026 | ||||
| 5 | DSI Pegasus | A | 15,250 | 4.75 | % | Cargill Ocean Transportation (Singapore) Pte. Ltd. | 5/Sep/2024 | 25/Jul/2025 | 3 | |
| 2015 60,508 | ||||||||||
| 6 | DSI Aquarius | B | 13,300 | 5.00 | % | Bunge SA, Geneva | 6/Dec/2024 | 6/Oct/2025 – 21/Dec/2025 | ||
| 2016 60,309 | ||||||||||
| 7 | DSI Aquila | B | 12,250 | 5.00 | % | Western Bulk Carriers AS | 21/Jan/2025 | 1/Aug/2025 – 5/Sep/2025 | 4 | |
| 2015 60,309 | ||||||||||
| 8 | DSI Altair | B | 15,750 | 5.00 | % | Propel Shipping Pte. Ltd. | 28/Sep/2024 | 1/Nov/2025 – 31/Dec/2025 | ||
| 2016 60,309 | ||||||||||
| 9 | DSI Andromeda | B | 14,000 | 4.75 | % | Cargill Ocean Transportation (Singapore) Pte. Ltd. | 28/Mar/2025 | 15/Nov/2025-15/Jan/2026 | 5 | |
| 2016 60,309 | ||||||||||
| 6 Panamax Bulk Carriers | ||||||||||
| 10 | LETO | 12,275 | 4.75 | % | Cargill International SA, Geneva | 4/Apr/2025 | 16/Jul/2026 – 16/Sep/2026 | 6 | ||
| 2010 81,297 | ||||||||||
| 11 | SELINA | C | 10,500 | 5.00 | % | Raffles Shipping International Pte. Ltd. | 17/Oct/2024 | 14/Apr/2025 | 7 | |
| 2010 75,700 | 6,500 | 5.00 | % | Reachy Shipping (SGP) Pte. Ltd. | 13/May/2025 | 12/Jul/2025 | 8 | |||
| 12 | MAERA | C | 8,400 | 5.00 | % | China Resource Chartering Limited | 15/Dec/2024 | 20/Sep/2025-20/Nov/2025 | ||
| 2013 75,403 | ||||||||||
| 13 | ISMENE | 12,650 | 5.00 | % | Paralos Shipping Pte., Ltd. | 13/Sep/2023 | 24/Apr/2025 | |||
| 2013 77,901 | 11,000 | 5.00 | % | China Resource Chartering Pte. Ltd. | 24/Apr/2025 | 20/Mar/2026 – 20/May/2026 | ||||
| 14 | CRYSTALIA | D | 13,900 | 5.00 | % | Louis Dreyfus Company Freight Asia Pte. Ltd. | 4/May/2024 | 4/Feb/2026 – 4/Jun/2026 | ||
| 2014 77,525 | ||||||||||
| 15 | ATALANDI | D | 14,600 | 4.75 | % | Cargill International SA, Geneva | 20/Jul/2024 | 8/Jun/2025 | ||
| 2014 77,529 | 10,100 | 5.00 | % | Stone Shipping Ltd. | 8/Jun/2025 | 15/Jun/2026 – 15/Aug/2026 | 9 | |||
| 6 Kamsarmax Bulk Carriers | ||||||||||
| 16 | MAIA | E | 11,600 | 5.00 | % | Paralos Shipping Pte. Ltd. | 9/Dec/2024 | 1/Nov/2025 – 31/Dec/2025 | ||
| 2009 82,193 | ||||||||||
| 17 | MYRSINI | E | 13,000 | 4.75 | % | Cargill International SA, Geneva | 26/Feb/2025 | 1/Jan/2026 – 28/Feb/2026 | ||
| 2010 82,117 | ||||||||||
| 18 | MEDUSA | E | 13,000 | 4.75 | % | Cargill International SA, Geneva | 16/Mar/2025 | 15/May/2026 – 15/Jul/2026 | ||
| 2010 82,194 | ||||||||||
| 19 | MYRTO | E | 12,000 | 5.00 | % | Nippon Yusen Kabushiki Kaisha, Tokyo | 23/Dec/2024 | 1/Mar/2026 – 15/May/2026 | ||
| 2013 82,131 | ||||||||||
| 20 | ASTARTE | 14,000 | 5.00 | % | Paralos Shipping Pte. Ltd. | 19/Aug/2024 | 2/Aug/2025 | 1 | ||
| 2013 81,513 | 12,500 | 5.00 | % | Propel Shipping Pte. Ltd. | 2/Aug/2025 | 16/Aug/2026 – 16/Oct/2026 | 2 | |||
| 21 | LEONIDAS P. C. | 17,000 | 5.00 | % | Ming Wah International Shipping Company Limited | 22/Feb/2024 | 20/Aug/2025 – 20/Sep/2025 | 4 | ||
| 2011 82,165 | ||||||||||
| 4 Post-Panamax Bulk Carriers | ||||||||||
| 22 | AMPHITRITE | F | 12,100 | 5.00 | % | Cobelfret S.A., Luxembourg | 8/Jan/2025 | 1/Jan/2026 – 15/Mar/2026 | 10 | |
| 2012 98,697 | ||||||||||
| 23 | POLYMNIA | F | 17,500 | 5.00 | % | Reachy Shipping (SGP) Pte. Ltd. | 8/Jun/2024 | 1/Aug/2025 – 30/Aug/2025 | 4 | |
| 2012 98,704 | ||||||||||