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Diana Shipping Inc. (NYSE: DSX) reported higher Q2 earnings after stronger charter rates more than compensated for a slightly smaller fleet.
The New York-listed company posted net income of $20.8 million for the three months ended June 30, compared with $4.5 million a year earlier. Net income attributable to common shareholders climbed to $19.3 million from $3.1 million, lifting basic earnings per share to $0.17 from $0.03.
For the first 6 months of the year, net income reached $49.9 million, compared with $7.5 million during the same period in 2025. Net income attributable to common shareholders rose to $47.0 million from $4.7 million, and basic earnings per share increased to $0.42 from $0.04.
Time charter revenue rose more modestly. Second quarter revenue reached $57.3 million, up from $54.7 million a year earlier, as stronger charter rates offset fewer ownership days following the sale of one vessel during the third quarter of last year. Revenue for the first half increased to $112.0 million from $109.6 million.
The company’s average TCE rate improved to $16,581 per day during the second quarter from $15,492 per day a year earlier. For the first 6 months, the average TCE reached $16,309 per day, compared to $15,615 per day in the corresponding period of 2025. Fleet utilization remained close to full capacity at 99.6% during the quarter.
Diana declared a cash dividend of $0.01 per common share for the quarter, payable on September 11 to shareholders of record on August 21.
Chief Executive Officer Ms. Semiramis Paliou noted:
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