Diana Shipping Inc. disposed of 1.2 million common shares of Genco Shipping & Trading Ltd. in late August for approximately $32.06 million, according to regulatory filings.
The sales were executed across multiple trades between August 21 and August 24 at average prices ranging from $26.50 to $27.22 per share. Following the dispositions, Diana Shipping retains a direct holding of 5,064,548 shares in Genco, maintaining its position as the company’s largest shareholder.
Genco reported adjusted earnings of $0.65 per share for the second quarter of 2026, exceeding Wall Street’s $0.59 estimate. Revenue reached $92.3 million, marginally above forecasts, supported by higher freight rates and an expanded fleet of high-specification vessels. Adjusted EBITDA surged roughly 300% year-over-year.
Diana Shipping previously withdrew a proposed acquisition offer for Genco, citing unreasonable demands from Genco’s board. Despite the withdrawal, the company stated it would continue engaging with Genco as a significant shareholder.
