Diana Shipping Inc. (NYSE: DSX) is a global provider of shipping transportation services. We specialize in the ownership of dry bulk vessels. As of August 7, 2020 our fleet consists of 40 dry bulk vessels (4 Newcastlemax, 13 Capesize, 5 Post-Panamax, 5 Kamsarmax and 13 Panamax), as well as one Panamax dry bulk vessel, the "Arethusa", that has been sold and expected to be delivered to her new owners to the latest by August 31, 2020. As of the same date, the combined carrying capacity of our fleet, including the m/v Arethusa, is approximately 5.1 million dwt with a weighted average age of 9.89 years.
Our fleet is managed by our wholly-owned subsidiary Diana Shipping Services S.A. and our established 50/50 joint venture with Wilhelmsen Ship Management named Diana Wilhelmsen Management Limited in Cyprus.
Among the distinguishing strengths that we believe provide us with a competitive advantage in the dry bulk shipping industry are the following:
- We own a modern, high quality fleet of dry bulk carriers.
- Our fleet includes groups of sister ships, providing operational and scheduling flexibility, as well as cost efficiencies.
- We have an experienced management team.
- We benefit from the experience and reputation of Diana Shipping Services S.A. and the relationship with Wilhelmsen Ship Management through the Diana Wilhelmsen Management Limited joint venture.
- We benefit from strong relationships with members of the shipping and financial industries.
- We have a strong balance sheet and a low level of indebtedness.
Our main objective is to manage and expand our fleet in a manner that will enable us to enhance shareholder value. To accomplish this objective, we intend to pursue highly focused business strategies, including: maintaining a high quality fleet; strategically expanding the size of our fleet; pursuing an appropriate balance of short-term and long-term time charters; maintaining a strong balance sheet; and maintaining low cost, highly efficient operations. In addition, we intend to capitalize on our reputation for high standards of performance, reliability and safety to establish and maintain relationships with major international charterers and financial institutions.
Simeon P. Palios
Chief Executive Officer
Deputy Chief Executive Officer and Chief Operating Officer
Anastasios C. Margaronis
Interim Chief Financial Officer, Chief Strategy Officer,
Treasurer and Secretary
Chief Accounting Officer