Diana Shipping

Diana Shipping withdrew its offer for Genco after the Genco board made demands Diana called unrealistic. Diana had offered $24.80 cash per share (adjusted for a $0.80 dividend) plus one Diana share, with the Diana share valued at $2.54. Genco demanded $27.50 cash, a $2.00 dividend for Q3/Q4 2026 and three Diana shares per Genco share, equal to a total value of about $36.91 per share. Diana remains Genco's largest shareholder and said it will monitor Genco’s performance and hold its board accountable. » Mere på de.investing.com

Diana Shipping and Star Bulk have mutually terminated the agreement on the acquisition of 16 Genco vessels; Star Bulk withdrew due to the Genco board’s lack of willingness to negotiate. Diana’s takeover offer for Genco remains in place and consists of $24.80 per share (adjusted for the $0.80 dividend) plus one Diana share valued at $2.54. Diana said the termination has no impact on the committed debt financing of $1.411 billion, provided by six international banks. » Mere på de.investing.com

Diana Shipping, Genco's largest shareholder, disputes Genco’s assertion of rising ship values and cites VesselsValue data showing Genco’s fleet value fell from $1,483m to $1,433m (‑3.4%) since early June 2026. The company criticizes Genco for switching from VesselsValue to sell‑side analyst estimates after the takeover offer was launched, which increase net asset value by about $2 per share. Diana stands by its takeover offer of $27.34 per share and urges Genco’s board to enter direct negotiations. » Mere på de.investing.com

Diana Shipping has agreed a time charter with Classic Maritime for the Newcastlemax vessel m/v Philadelphia. The gross charter rate is $35,500/day (less 5% commission) and begins on 8 August, with a minimum duration until 10 March 2027 and a maximum until 10 May 2027. The Philadelphia (built 2012, 206,040 dwt) is currently chartered to Refined Success Limited at $21,500/day; for the minimum period Diana Shipping expects gross revenues of around $7.46m. The company operates a fleet of 36 bulk carriers (total deadweight capacity of about 4.1m tonnes, average age 12.67 years) and expects to take delivery of two Kamsarmax newbuilds with methanol dual-fuel propulsion in 2027/2028. » Mere på de.investing.com

Diana Shipping said its takeover offer for the outstanding Genco shares expired on Thursday and will not be extended; by the deadline 11,778,419 shares (31.6% of the shares not yet owned by Diana) were tendered and will be returned. The offer of $27.34 per share ($24.80 in cash plus one Diana share) remains in place. Diana denies reports of extensive negotiation talks and says there have been only two phone calls between advisers since the offer. The company said it ended the offer to remove an obstacle cited by Genco under US takeover law; a systems error at a depositary bank could have affected the final tender count. » Mere på de.investing.com