Diana Shipping Inc 6-K, filed May 2, 2023
Diana Shipping Inc. (DSX)
6-K
2023-05-02
For: 2023-05-31
View Original
Added on
April 08, 2026
About this 6-K
Diana Shipping Inc filed this 6-K on May 2, 2023.
FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16
OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of May 2023
Commission File Number: 001-32458
DIANA SHIPPING INC.
(Translation of registrant's name into English)
Pendelis 16, 175 64 Palaio Faliro, Athens, Greece
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [X] Form 40-F [ ]
INFORMATION CONTAINED IN THIS FORM 6-K REPORT
Attached to this Report on Form 6-K as Exhibit 99.1 is a press release dated May 2, 2023 of Diana Shipping Inc. (the
"Company") announcing that, that through a limited partnership, it has completed a joint venture and financing for the acquisition of the m.v. “DSI Drammen.” The Company also announced that, through a separate wholly-owned subsidiary, it has entered
into a time charter contract with ST Shipping and Transport Pte. Ltd., for one of its Capesize dry bulk vessels, the m/v Boston.
The information contained in this Report on Form 6-K is hereby incorporated by reference into the
Company's registration statements on Form F-3 (File Nos. 333-256791 and 333-266999) that were filed with the U.S. Securities and Exchange Commission and became effective on July 9, 2021 and September 16, 2022, respectively.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
|
DIANA SHIPPING INC.
|
||
|
(registrant)
|
||
|
Dated: May 2, 2023
|
By:
|
/s/ Anastassis Margaronis
|
|
Anastassis Margaronis
|
||
|
President
|
||
Exhibit 99.1
|
Corporate Contact:
|
|
|
Ioannis Zafirakis
|
|
|
Director, Chief Financial Officer,
|
|
|
Chief Strategy Officer, Treasurer and Secretary
|
|
|
Telephone: + 30-210-9470-100
|
|
|
Email: izafirakis@dianashippinginc.com
|
|
|
Website: www.dianashippinginc.com
|
|
|
Twitter: @Dianaship
|
|
|
For Immediate Release
|
|
|
Investor and Media Relations:
|
|
|
Edward Nebb
|
|
|
Comm-Counsellors, LLC
|
|
|
Telephone: + 1-203-972-8350
|
|
|
Email: enebb@optonline.net
|
DIANA SHIPPING INC. ANNOUNCES COMPLETION OF A JOINT VENTURE FOR THE ACQUISITION OF “DSI DRAMMEN” AND
HER FINANCING WITH NORDEA BANK
AND TIME CHARTER CONTRACT FOR M/V BOSTON WITH ST SHIPPING
ATHENS, GREECE, May 2, 2023 – Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat
charter-in of dry bulk vessels, today announced that through a limited partnership it signed an investment agreement for the acquisition by a Norwegian entity of a 75% partnership interest in m.v. “DSI Drammen”, while maintaining 25% of the
partnership interest. The Company acquired the vessel earlier this year. The financing of the vessel was also concluded, with the drawdown of US$15.4 million from Nordea Bank Abp, filial i Norge, as a result of the term loan facility which the
Company signed on March 30, 2023.
The Company also announced that, through a separate wholy-owned subsidiary, it has entered into a time charter contract with ST Shipping and Transport Pte.
Ltd., for one of its Capesize dry bulk vessels, the m/v Boston. The gross charter rate is US$17,000 per day, minus a 5% commission paid to third parties, for a period until minimum July 15, 2024 up to maximum October 15, 2024. The charter is expected
to commence on May 6, 2023.
The “Capesize” is a 177,828 dwt Capesize dry bulk vessel built in 2007.
The employment of “Boston” is anticipated to generate approximately US$7.29 million of gross revenue for the minimum scheduled period of the time charter.
Diana Shipping Inc.’s fleet currently consists of 42 dry bulk vessels (4 Newcastlemax, 10 Capesize, 5 Post-Panamax, 6 Kamsarmax, 7 Panamax and 10 Ultramax).
As of today, the combined carrying capacity of the Company’s fleet, is approximately 4.7 million dwt with a weighted average age of 10.03 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 and bareboat charter-in of dry bulk vessels. The Company’s
vessels are employed primarily on short to medium-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, including risks associated with the continuing conflict between Russia and Ukraine and related sanctions,
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.