Diana Shipping Inc. Reports Financial Results for the Second Quarter and Six Months Ended June 30, 2025; Declares Cash Dividend of $0.01 Per Common Share for the Second Quarter 2025
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