Topic
diana shipping
Logistics Diana Shipping threatens to cut Genco takeover bid after fleet value drops $50m
Diana Shipping has warned it may reduce its $27.34-per-share takeover proposal for Genco Shipping & Trading, citing a $50 million drop in Genco's fleet value since early June. The Athens-based owner claims a softer dry bulk market is eroding Genco's net asset value, and has also questioned the valuation method used by the New York-listed owner. Genco has rejected the allegations, stating that broker valuations show vessel prices are still rising.
Logistics Diana Drops Hostile Tender for Genco as Takeover Talks Stall, Keeps Higher Bid on Table
Diana Shipping has allowed its hostile tender offer for Genco Shipping & Trading to expire after insufficient shares were tendered, but the company is keeping its separate $27.34-per-share takeover proposal on the table. The tender, which offered $24.80 per share, saw 31.6% of Genco's outside stock tendered. Diana now seeks direct negotiations, while Genco disputes valuation claims and questions the stock component of the proposal.
Logistics Diana Shipping secures 65% rate increase for newcastlemax Philadelphia in fixture with Classic Maritime
New York-listed Diana Shipping has secured a 65% rate increase for its 206,040 dwt newcastlemax Philadelphia, fixing it with Classic Maritime at $35,500 per day from August 8. The charter runs until at least March 10, 2027, and is expected to generate about $7.46m in gross revenue over the minimum period. This marks a return to Classic Maritime for the vessel, which was previously chartered by them in 2021 at $28,500/day.
Logistics Diana Shipping Locks In 63% Rate Hike for Panamax Bulker Atalandi with Stone Shipping
Diana Shipping has chartered its panamax bulker Atalandi to Stone Shipping at a 63% higher rate of $16,500 per day. The enhanced fixture runs from August 5, 2026, with minimum gross revenue of $5.89 million. The deal joins a string of improved Diana fixtures this year, including the ultramax DSI Pegasus and kamsarmax Medusa.
Logistics Diana Shipping Locks In Nearly 30% Rate Increase for Ultramax in New Fednav Charter
Diana Shipping finalized a new time charter for its ultramax DSI Pegasus with Fednav at $18,350/day, nearly 30% above the previous Cargill rate. The deal runs from July 27, 2026 through at least August 15, 2027 with an extension option, expected to generate approximately $6.95m in gross revenue.
Logistics Diana Shipping and Genco Trade Fire Before Tender Deadline as Public Battle Escalates
The takeover fight between Diana Shipping and Genco Shipping & Trading has intensified in the final stretch before Diana's tender offer deadline on July 10. Genco has urged shareholders not to tender, arguing that the offer undervalues the company, while Diana accuses Genco of avoiding negotiations. As of June 26, 10.6 million Genco shares had been tendered, representing 28.4% of outstanding shares not owned by Diana.
Logistics Diana Shipping Secures Improved Kamsarmax Charter at $16,850 per Day for Medusa Bulker
Diana Shipping has fixed its kamsarmax bulker Medusa to Aquavita International at a gross rate of $16,850 per day, a 29.6% increase over its previous charter with Cargill. The deal runs from July 10 to at least October 5, 2027, and builds on Diana's improving forward cover.
Logistics Diana Shipping secures improved panamax bulker charter rate at $15,750 per day
Diana Shipping has fixed the 77,901 dwt panamax bulker Ismene to Paralos Shipping at $15,750 per day, a significant increase from its previous $11,000 rate. The charter begins July 5 and runs through mid-2027, yielding at least $4.88 million in gross revenue. This marks a return to Paralos, which previously chartered the vessel at $12,650 per day in 2023.
Logistics Genco Shareholders Routinely Re-elect Board, Defeating Diana Shipping's Board Challenge
Genco Shipping & Trading shareholders overwhelmingly re-elected all six company-backed director nominees, dealing a major setback to rival Diana Shipping's board challenge. Diana, which owns 14.4% of Genco, had sweetened its takeover offer to $27.34 per share but failed to gain board seats. The takeover saga continues as Genco reviews the latest proposal.
Logistics Diana Shipping sweetens Genco bid again with cash-and-stock offer valuing target at $27.34 per share
Greek dry bulk owner Diana Shipping has increased its takeover proposal for US-listed rival Genco Shipping & Trading for a fourth time, adding a stock component and valuing Genco at $27.34 per share. The cash-and-stock offer includes $24.80 per share in cash plus one Diana share valued at $2.54. Diana CEO Semiramis Paliou stated the proposal provides a meaningful premium and immediate cash value while creating one of the largest publicly listed dry bulk operators.
Logistics Diana Shipping Scales Back Genco Campaign Ahead of Crunch Shareholder Vote
Diana Shipping has withdrawn four of its six director nominees for Genco Shipping & Trading's board election, leaving only Jens Ismar and Paul Cornell. The move comes after all three major proxy advisory firms recommended shareholders support Genco's slate. The outcome of the June 18 vote could determine the future of Diana's tender offer for Genco.