Diana Shipping Inc. (NYSE:DSX) shares were down -1.46% on Friday when approximately 785,050.00 shares were traded, against the average daily trading volume of 715,587.00. Analysts at Credit Agricole recently upgraded the stock to Underperform from Buy. Diana Shipping Inc. (NYSE:DSX) has a consensus Hold rating, according to Zacks Investment Research. 1 analyst has rated the stock with a sell rating, 8 have assigned a hold rating, Zero says it’s a buy, and 0 have assigned a strong buy rating to the company.
The 52-week price range is $1.95-$4.97 and the company has a market capitalization of $343.88 billion.
Diana Shipping Inc. (DSX) on January 25, 2017 announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Cargill International S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Baltimore, for a period of minimum thirteen (13) months to about sixteen (16) months. The gross charter rate is US$11,300 per day, minus a 4.75% commission paid to third parties. The new charter period is expected to commence on February 3, 2017.
The “Baltimore” is a 177,243 dwt Capesize dry bulk vessel built in 2005.
The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Noble Resources International Pte. Ltd., Singapore, for one of its Panamax dry bulk vessels, the m/v Arethusa. The gross charter rate is US$7,200 per day, minus a 5% commission paid to third parties, for a period of minimum ten (10) months to maximum fourteen (14) months. The charter commenced on January 23, 2017.
The “Arethusa” is a 73,593 dwt Panamax dry bulk vessel built in 2007.
The employment extension of “Baltimore” as well as the employment of “Arethusa” are anticipated to generate approximately US$6.57 million of gross revenue for the minimum scheduled period of the time charters.
Diana Shipping Inc.’s fleet currently consists of 48 dry bulk vessels (4 Newcastlemax, 14 Capesize, 3 Post-Panamax, 4 Kamsarmax and 23 Panamax). As of, the combined carrying capacity of the Company’s fleet is approximately 5.7 million dwt with a weighted average age of 7.65 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.