Diana Shipping repurchased 11.5 million shares for $22.9 million, acquired 14.8% of Genco, and proposed a $20.60-per-share takeover offer. They plan to nominate six directors to Genco’s 2026 board, backed by $1.1 billion in shipping-bank financing.

Revenue visibility is strong, with 71% of 2026 ownership days locked in at $17,700/day. Cash stands at $133 million, loan-to-value at 53%, with a cash break-even of $16,800/day using current FFA curves.

Diana Shipping is focused on decarbonization, improving efficiency by 15% and adding two methanol dual-fuel Kamsarmax newbuilds. They outlined their fleet profile, chartering strategy, and market views in a recent corporate presentation.

Management highlighted the company’s 2025 performance, including share repurchases, strategic partnerships, and fleet expansion. They also acquired a stake in Genco and secured contracted revenues for 2026 and 2027.

Diana Shipping proposed an all-cash offer to acquire Genco at $20.60 per share, which was rejected by Genco’s board. They plan to nominate directors for Genco’s board and emphasized the value and certainty of their offer.

Diana Shipping’s chartering strategy aims for revenue visibility and risk reduction. They have fixed revenues at $17,700/day for 2026, with 29% of days unfixed and an average duration of 1.2 years.

The company addressed leverage, liquidity, and break-even figures. Cash stands at $133 million, loan-to-value at 53%, with a cash break-even of $16,800/day. Forward freight agreement assumptions estimate positive revenue contributions for 2026.

Diana Shipping’s management discussed market conditions, global GDP growth, and vessel demand for 2026. They emphasized a strong start to the year, controlled fleet growth, and ongoing decarbonization efforts.

Decarbonization efforts at Diana Shipping include operational measures and retrofits, improving fleet efficiency by 15%. They have a comprehensive strategy for reducing emissions and renewing the fleet with alternative-fuel vessels.

Sustainability is a key focus for Diana Shipping, with a commitment to long-term value creation. They have published multiple ESG reports, received external assessments, and maintained a quarterly dividend since 2021.

Read more at Yahoo Finance: Diana Shipping Details Buybacks, Genco Bid, and Decarbonization Plan at Capital Link Conference