Diana Shipping Inc. disposed of 1.2 million common shares of Genco Shipping & Trading Ltd. for approximately $32.06 million, according to a filing published on August 25, 2026.
The sales were executed in two tranches on August 21 and August 24, with share prices ranging from $26.50 to $27.22. On August 21, the company sold 450,000 shares at average prices of $26.93 and $26.59. On August 24, it sold 750,000 shares across six transactions at average prices between $26.50 and $27.22.
Following the dispositions, Diana Shipping retains a direct stake of 5,064,548 common shares in Genco Shipping, maintaining its position as the latter’s largest shareholder. The company had previously withdrawn a proposed acquisition of Genco, citing what it described as unreasonable demands by Genco’s board.
Genco Shipping reported adjusted earnings of $0.65 per share for the second quarter of 2026, exceeding Wall Street’s estimate of $0.59. Revenue reached $92.3 million, slightly above projections, driven by higher freight rates and an expanded high-specification fleet. Adjusted EBITDA surged approximately 300% year-over-year.
