DSX News & Events

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Paralos Shipping for one of its Panamax dry bulk vessels, the m/v Ismene. The gross charter rate is $15,750 per day, minus a 5% commission paid to third parties, for a period until minimum May 15, 2027, up to maximum July 15, 2027. The charter is expected to commence on July 5. The m/v Ismene is currently chartered, as previously announced, to CRC Shipping at a gross charter rate of $11,000 per day, minus a 5% commission paid to third parties. The "Ismene" is a 77,901 dwt Panamax dry bulk vessel built in 2013.

Diana Shipping (DSX) reaffirmed its commitment to its offer to acquire Genco (GNK). On June 17, 2026, Diana increased its offer to acquire all outstanding shares of Genco not already owned by Diana to a total implied value of $27.34 per share, comprised of $24.80 per share in cash plus one Diana share valued at $2.54 based on Diana's volume-weighted average price per share for the 30 days ended on June 16, 2026. The Revised Offer represents a 53% premium to Genco's undisturbed share price and a 6% premium to Genco's net asset value per share based on VesselsValue data, at cyclically high drybulk asset values that are at or near 15-year highs. Semiramis Paliou, Diana's Chief Executive Officer, commented: "Today's outcome does not - and will not - in any way diminish our commitment to acquiring Genco and delivering attractive value to all shareholders. We have spent more than six months making the case that our offer represents compelling and certain value for Genco shareholders, but the Genco Board has rejected our offer three times without meaningful engagement, a counterproposal, or a credible alternative path to value creation. As Genco's largest shareholder, Diana will continue to seek to maximize value on behalf of all shareholders. We are grateful to Genco shareholders for engaging in thoughtful discourse with us over the past several months, and we encourage all shareholders to join us in continuing to hold the Board and management team accountable. Our door remains open, and we are eager and available to engage with respect to the attractive offer we have proposed."

Genco Shipping & Trading announced that, based on preliminary results, Genco shareholders have voted to re-elect all six of Genco's director nominees - Paramita Das, Kathleen C. Haines, Basil G. Mavroleon, Karin Y. Orsel, Arthur L. Regan and John C. Wobensmith. Genco issued the following statement: "We thank our shareholders for their resounding support. We believe the results of today's meeting reflect their confidence in our Board of Directors and the strong returns we are delivering through our Comprehensive Value Strategy. This is an exciting and important time for Genco. The actions we have taken to grow our premium earning assets, reduce debt, lower breakeven levels and increase our earnings and dividend capacity are paying off. In that light - and in furtherance of its fiduciary duties - our Board is carefully reviewing the revised non-binding proposal received from Diana on June 17, 2026, in consultation with its financial and legal advisors. Our Board is committed to maximizing shareholder value and will continue taking actions that it believes are in the best interests of all Genco shareholders."

The major averages closed lower after the Federal Reserve, now under new chair Kevin Warsh, voted 12-0 to keep the target range for the federal funds rate unchanged at 3.5%-3.75%. Of note, in the committee's quarterly summary of economic projections, half of the respondents indicated they expect at least one rate hike this year, with some committee members projecting two or three. In a dramatically shorter post-meeting statement, the Fed said that inflation remains elevated, but committed that the committee will "deliver price stability."Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Jabilprovided areport for Q3La-Z-Boyreportedand announced a new $300M share repurchase programCarMaxreportedDiana Shippingraised itsGenco Shippingto $27.34 per shareThe U.S. Federal Reserve kept the target for theat 3.50%-3.75%2. WALL STREET CALLS:RothschildLyftto Buy on autonomous vehicle upsideLeidosto Neutral at BofA on increasing healthcare pressureCiti highlights AI ramp incoverage of Figmawith a BuyCarter'sto Equal Weight from Underweight at Wells FargoResMedto Equal Weight at Morgan Stanley3. AROUND THE WEB:Activist investor Toms Capital is targeting Devon Energy, FT reportsNew DiageoCEO Dave Lewis has launched a "significant" restructuring efforts, FT saysMetaCTO Andrew Bosworth acknowledged that the company handled its recent AI reorganization poorly, describing the rollout as "atrocious" in an internal memo, Wired saysPayPalis winding down its decade-old venture investing arm as part of a broader corporate restructuring, with the team shrinking from more than 10 employees in late 2025 to just two and public visibility into the unit's staff largely removed, Fortune reportsOraclesaid on Tuesday that details in a Business Insider report on the collapse of its discussions with Microsoftover a potential leasing deal were inaccurate, according to Reuters4. MOVERS:uniQuregained in New York after announcingfor AMT-130SharonAIwas higher afterBitGoincreased after announcing aLionsgate Studioswas lower in New York afterNetflixhas no plans to pursue a takeover of the companyCME Groupfell after announcingand Lynne Fitzpatrick will succeed5. EARNINGS/GUIDANCE:Deswell Industries, with EPS lower year-over-yearSmith & Wesson Brandson June 17, 2026Accentureon June 18, 2026Krogeron June 18, 2026Safe Bulkerson June 18, 2026INDEXES:The Dow fell 507.12, or 0.98%, to 51,492.55, the Nasdaq lost 354.69, or 1.34%, to 26,021.66, and the S&P 500 declined 91.25, or 1.21%, to 7,420.10.