Stifel bumps Nvidia stock target, sees attractive valuation
ATHENS - Diana Shipping Inc. (NYSE:DSX), a global shipping company specializing in the ownership of dry bulk vessels, with a current market capitalization of $193.8 million and trading near its 52-week low, today announced a new time charter contract with Cargill Ocean Transportation for its Ultramax dry bulk vessel, the m/v DSI Andromeda. According to InvestingPro analysis, the company maintains impressive gross profit margins of 57.85%. The charter rate is set at $14,000 per day, with a 4.75% commission to third parties, spanning from at least November 15, 2025, to a potential latest of January 15, 2026.
The charter is scheduled to start on March 29, 2025, following the conclusion of the vessel’s current charter with Bunge SA, Geneva, at a rate of $13,500 per day. The DSI Andromeda, a 60,309 dwt Ultramax dry bulk vessel built in 2016, is expected to generate approximately $3.18 million in gross revenue for the minimum scheduled period of the new charter. This contract adds to Diana Shipping’s last twelve months revenue of $228.21 million, with the company currently trading at an attractive Price-to-Book ratio of 0.38, suggesting potential undervaluation according to InvestingPro metrics.
Diana Shipping’s fleet comprises 37 dry bulk vessels, including 4 Newcastlemax, 8 Capesize, 4 Post-Panamax, 6 Kamsarmax, 6 Panamax, and 9 Ultramax ships. The company also anticipates the addition of two methanol dual fuel new-building Kamsarmax dry bulk vessels by the second half of 2027 and the first half of 2028, respectively. With an EBITDA of $97.9 million in the last twelve months, the company demonstrates solid operational performance. For detailed analysis and additional insights, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US equities. Excluding the two vessels not yet delivered, the fleet’s combined carrying capacity is approximately 4.1 million dwt with a weighted average age of 11.39 years.
Diana Shipping Inc. provides shipping transportation services globally, primarily employing its vessels on short to medium-term time charters to transport a variety of dry bulk cargoes, such as iron ore, coal, grain, and other materials along international shipping routes.
The information in this article is based on a press release statement from Diana Shipping Inc. The company’s forward-looking statements are subject to various assumptions, uncertainties, and contingencies that are beyond the company’s control, and actual results could differ materially from those expressed in these statements. Diana Shipping Inc. undertakes no obligation to revise or update any forward-looking statement in light of new information or future events.
In other recent news, Diana Shipping Inc. reported its Q4 2024 earnings, with earnings per share (EPS) meeting analyst expectations at $0.02. The company’s revenue slightly exceeded forecasts, reaching $57.1 million compared to the anticipated $54.7 million. Diana Shipping also announced a new time charter contract with Cargill International SA for the Kamsarmax dry bulk vessel, m/v Medusa, expected to generate approximately $5.46 million in gross revenue. The company plans to reduce its fleet to 37 vessels following the sale of the m/v Alcmene. Additionally, Diana Shipping anticipates the addition of two methanol dual-fuel new-building Kamsarmax vessels by late 2027 and early 2028. The company maintains a strong cash position of $207.2 million and a slight decrease in long-term debt to $637.5 million. Diana Shipping’s fleet utilization remained high at 99.7% for the year. The company projects stable earnings for 2025, with secured revenues of $124.8 million.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.