Diana Shipping Reports Strong Q2 Earnings Amid Improved Charter Rates
Diana Shipping (NYSE:DSX) reported higher second-quarter revenue, net income, and adjusted EBITDA for the quarter ended June 30, 2026. The company's improved performance was driven by increased charter rates, reduced interest expenses due to debt reduction, and gains on equity securities. Time charter revenue rose to $57.3 million from $54.7 million in the prior-year period, while net income attributable to common shareholders climbed to $19.3 million compared with $3.1 million a year ago. The company's fleet performance showed strong utilization at 99.6%, and its time-charter-equivalent rate increased by 7% to $16,581 per day from the previous year’s $15,492. Diana Shipping also reported cash equivalents of $117.9 million as of June 30, with long-term debt reduced to $606.1 million due to scheduled amortization. Looking ahead, management secured a significant portion of its revenue for the remainder of 2026 and into 2027 based on forward freight agreements. The company also declared a quarterly dividend of $0.01 per share.
Topics: ebitda net_income revenue_growth shipping