$DSX

Diana Shipping sold 285,707 Genco shares, reducing its stake to 4.13 million and falling below the 10% ownership threshold. The sale occurred after Diana abandoned its takeover bid for Genco, citing valuation disagreements. Diana's CEO stated it would remain a significant shareholder and monitor Genco's performance.

Diana Shipping extended a contract with Cargill for the panamax bulker at a higher rate of $18,000 per day. The Greek owner, Diana Shipping, secured the increased time-charter rate, which is notable for investors in shipping and maritime logistics.

Diana Shipping said it walked away from its Genco bid and made a counteroffer framework, asking for $27.50 per Genco share in cash plus $2.00 per share in dividends and three Diana shares per Genco share, which Diana calculates to about $36.91 per Genco share. The proposed deal structure relied heavily on Diana stock, raising dilution concerns for Genco holders.

US stock index futures rose at the open, led by tech and semiconductors. Nasdaq futures were up 0.5% after Anthropic reported preliminary Q2 revenue of $11.5 billion, at least 14-fold year over year, boosting AI optimism. The article also cites premarket moves in Mag 7, and company-specific updates including Diana Shipping, EyePoint, L3Harris, Macy’s, and Target Hospitality.

Diana Shipping said it withdrew its offer to acquire Genco Shipping & Trading after Genco’s board demanded consideration of about $36.91 per share, a 57% premium to Genco’s last undisturbed price. Diana called the demand disconnected from a credible buyer’s value and said it will keep monitoring Genco as its largest shareholder.

Diana Shipping Inc. (NYSE:DSX) withdrew its offer to acquire Genco Shipping & Trading (NYSE:GNK) after Genco’s board asked for higher consideration. Diana’s bid was $24.80 cash per GNK share plus one DSX share, adjusted for a dividend. Genco demanded $27.50 cash, $2.00 dividends for Q3 and Q4 2026, and three DSX shares per GNK share.

Diana Shipping and Star Bulk Carriers mutually terminated a vessel sale and purchase agreement tied to Diana’s proposed acquisition of Genco Shipping & Trading, covering 16 vessels. Diana’s $24.80 per share cash offer, adjusted for a $0.80 dividend plus 1 Diana share valued at $2.54, remains. Diana said its $1.411 billion committed, condition-free financing is unchanged.

The article says publicly listed shipowners reported record Q2 earnings and are investing in fleet renewal and raising dividends amid a prolonged shipping bull market, with James Lightbourn (Ocean Atomics) attributing the boom to geopolitics. It cites results including DHT Holdings net profit US$198M, Teekay Tankers GAAP net income US$225.9M, and International Seaways net income US$294.9M.

Star Bulk Carriers said it withdrew from a vessel purchase agreement with Diana Shipping to buy 16 Genco Bulkers as part of Diana’s proposed acquisition of Genco Shipping & Trading. Diana said its $1.4 billion financing from six banks remains in place and its offer to buy remaining Genco shares is still available. The move follows Diana’s expired tender offer and failed board changes.

Diana Shipping Inc. (NYSE: DSX) said it and Star Bulk Carriers Corp. (Nasdaq: SBLK) mutually terminated their vessel sale and purchase agreement after Star Bulk requested it. The deal would have covered 16 Genco vessels tied to Diana’s proposed acquisition of Genco (NYSE: GNK). Diana’s $1.411 billion committed financing remains in place, and its offer to buy remaining Genco shares is still $24.80 cash plus $2.54 in Diana stock per share, adjusted for a $0.80 dividend.