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MarketScreener Homepage  >  Equities  >  Nyse  >  Diana Shipping Inc.    DSX   MHY2066G1044


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Diana Shipping : Announces Time Charter Contract for m/v Polymnia With CLdN Cobelfret

11/27/2020 | 09:29am EST

ATHENS, Greece, Nov. 27, 2020 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with CLdN Cobelfret SA, Luxembourg, for one of its Post-Panamax dry bulk vessels, the m/v Polymnia. The gross charter rate is US$12,100 per day, minus a 5% commission paid to third parties, for a period until minimum October 15, 2021 up to maximum December 25, 2021. The charter commenced on November 22, 2020. The m/v Polymnia was chartered, as previously announced, to Cargill International S.A., Geneva, at a gross charter rate of US$11,000 per day, minus a 4.75% commission paid to third parties. 

The “Polymnia” is a 98,704 dwt Post-Panamax dry bulk vessel built in 2012.

This employment is anticipated to generate approximately US$3.91 million of gross revenue for the minimum scheduled period of the time charter.

Upon completion of the previously announced sales of one Panamax dry bulk vessel, the m/v Coronis, and one Capesize dry bulk vessel, the m/v Sideris GS, Diana Shipping Inc.’s fleet will consist of 38 dry bulk vessels (4 Newcastlemax, 12 Capesize, 5 Post-Panamax, 5 Kamsarmax and 12 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Coronis and the m/v Sideris GS  is approximately 5.0 million dwt with a weighted average age of 10.14 years. A table describing the current Diana Shipping Inc. fleet can be found on the Company’s website, www.dianashippinginc.com. Information contained on the Company’s website does not constitute a part of this press release.

About the Company

Diana Shipping Inc. is a global provider of shipping transportation services through its ownership of dry bulk vessels. The Company’s vessels are employed primarily on medium to long-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.

Cautionary Statement Regarding Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.

The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,” “should,” “expect,” “pending” and similar expressions identify forward-looking statements.

The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, Company management’s examination of historical operating trends, data contained in the Company’s records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond the Company’s control, the Company cannot assure you that it will achieve or accomplish these expectations, beliefs or projections.

In addition to these important factors, other important factors that, in the Company’s view, could cause actual results to differ materially from those discussed in the forward-looking statements include the severity, magnitude and duration of the COVID-19 pandemic, including impacts of the pandemic and of businesses’ and governments’ responses to the pandemic on our operations, personnel, and on the demand for seaborne transportation of bulk products; the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for dry bulk shipping capacity, changes in the Company’s operating expenses, including bunker prices, drydocking and insurance costs, the market for the Company’s vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessel breakdowns and instances of off-hires and other factors. Please see the Company’s filings with the U.S. Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

Corporate Contact:
Ioannis Zafirakis
Director, Interim Chief Financial Officer,
Chief Strategy Officer, Treasurer and Secretary
Telephone: + 30-210-9470-100
Email: izafirakis@dianashippinginc.com
Website: www.dianashippinginc.com 

Investor and Media Relations:
Edward NebbComm-Counsellors, LLC
Telephone: + 1-203-972-8350
Email: enebb@optonline.net

Source: Diana Shipping Inc. c/o Diana Shipping Services S.A.

2020 GlobeNewswire, Inc., source Press Releases

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Financials (USD)
Sales 2020 157 M - -
Net income 2020 -136 M - -
Net Debt 2020 385 M - -
P/E ratio 2020 -1,48x
Yield 2020 -
Capitalization 202 M 202 M -
EV / Sales 2020 3,73x
EV / Sales 2021 3,44x
Nbr of Employees -
Free-Float 73,0%
Duration : Period :
Diana Shipping Inc. Technical Analysis Chart | DSX | MHY2066G1044 | MarketScreener
Technical analysis trends DIANA SHIPPING INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 2,20 $
Last Close Price 2,36 $
Spread / Highest target 27,1%
Spread / Average Target -6,78%
Spread / Lowest Target -32,2%
EPS Revisions
Managers and Directors
Simos P. Palios Chairman & Chief Executive Officer
Anastasios C. Margaronis President & Executive Director
Semiramis Paliou Deputy CEO, COO & Executive Director
Ioannis G. Zafirakis CFO, Treasurer & Executive Director
William Lawes Independent Non-Executive Director
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