Diana Shipping (DSX)

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See all 4 Bulls Reasons Bulls: Reasons To Buy Dividend Policy 100% agree Dividend Policy This issue revolves around the company’s dividend policy. While many management teams have decided to keep earnings in-house to build book value and possibly finance growth initiatives, Diana has decided to pay out the majority of its cash flow to investors, thus keeping... read more View or Edit Reason 1 votes 100% agree Unique Approach to financing new ships 100% agree Unique Approach to financing new ships The first issue is financing. When companies decide to purchase a new ship, they can finance that purchase with cash on hand by issuing debt or by issuing new equity. Since most companies do not have enough capital lying around for such a large purchase, they have turned... read more View or Edit Reason 1 votes 100% agree Strategic Decisions Important 100% agree Strategic Decisions Important A firm must strategically decide whether to operate under the fluctuating daily spot rates or whether to engage in long-term charter rates. While the prices were steadily rising, it seemed to make the most sense to take advantage of the potential revenue increases by... read more View or Edit Reason 1 votes 100% agree Bears: Reasons To Sell Feeling Bearish? Be the first to explain why this would make a poor investment Send the authors a comment or suggestion Be the first to make a suggestion See All Suggestions

Top Contributors Mark Deluzio Related Articles DryShips (DRYS) Eagle Bulk Shipping (EGLE) Baltic Dry Index Genco Shipping (GNK) Navios Maritime Holdings (NM)

Diana Shipping Inc. (NYSE:DSX) is a holding company of dry bulk goods transport vessels. The Company owns and operates 19 ships which have a capacity of over 2 million dead weight tons. Diana derives most of its revenues from the chartering of its wholly owned vessels to other companies. The chartering of these vessels involves the delivery of mostly commodities such as iron ore and coal throughout the world. Diana receives a contracted daily rate from its customer for two to five years.

[edit] Business Financials

[edit] Breakdown of Segments

[edit] Income Statement Analysis

[edit] Balance Sheet/Assets

[edit] Key Trends and Forces

[edit] World Economic Growth

[edit] Baltic Dry Index

This index is an average of Spot Market prices for various sizes and routes of shipping dry goods. The "BDI" provides a glimpse of the worldwide demand for Diana and the rest of the dry bulk shippers' services. Diana has a longer term bias and is not as dependent on current BDI prices like DryShips (DRYS). Higher rates will directly translate into higher current profits. By having longer term contracts, Diana hedges itself fairly well against the incredible volatility of this index. It dropped over 50% since the October highs; it has recovered slightly since then.

Bloomberg BDI Data

[edit] Demand Log for New Vessels

[edit] Competitors

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 Diana Shipping

	Select All  |  Select None Metrics Average Age of Fleet Average Time Charter Equivalent per Day Earnings Capacity Days Net Earning Days Off-Hire Days Average Vessel Operating Expenses per Day Time Charter Equivalent Revenues Vessels Owned Vessels Chartered In Debt to Equity Average Number of Vessels Revenue Net Income Number of Vessels Percentage Utilization Deadweight Tons Cancel

	Select All  |  Select None Companies American Commercial Lines (ACLI) Alexander & Baldwin (ALEX) Arlington Tankers (ATB) B+H Ocean Carriers (BHO) Capital Product Partners L.P. (CPLP) Danaos (DAC) Double Hull Tankers (DHT) DryShips (DRYS) Diana Shipping (DSX) Eagle Bulk Shipping (EGLE) Euroseas (ESEA) Excel Maritime Carriers (EXM) FreeSeas (FREE) Frontline (FRO) StealthGas (GASS) Golar LNG (GLNG) General Maritime (GMR) Genco Shipping (GNK) Hornbeck Offshore Services (HOS) Horizon Lines (HRZ) International Shipholding (ISH) Kirby (KEX) K-Sea Transportation Partners LP (KSP) Nordic American Tanker Shipping (NAT) Navios Maritime Holdings (NM) OceanFreight (OCNF) Omega Navigation Enterprises (ONAV) Overseas Shipholding Group (OSG) Quintana Maritime (QMAR) Aries Maritime Transport (RAMS) Rand Logistics (RLOG) Ship Finance International (SFL) Seaspan (SSW) TBS International (TBSI) Tidewater (TDW) Teekay Lng Partners, L.P. (TGP) Teekay Shipping (TK) Grupo TMM, S.A. (TMM) Tsakos Energy Navigation (TNP) Teekay Offshore Partners L.P. (TOO) Trailer Bridge (TRBR) Aktieselskabet Dampskibsselskabet Torm (TRMD) Ultrapetrol (Bahamas) (ULTR) U.S. Shipping Partners L.P. (USS) Knightsbridge Tankers (VLCCF) BRISTOW GROUP (BRS) PHI (PHII) Firstgroup PLC (FGP-LN) Cancel

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Company	Data From	Revenue	Net Income	Number of Vessels	Percentage Utilization	Deadweight Tons
Diana Shipping (DSX)	2007	$190M	$134M	18	99.3%	1.8M
DryShips (DRYS)	2006	$248M	$56.7M	36	97.7%	3M
Eagle Bulk Shipping (EGLE)	2007	$125M	$52.2M	18	99.4%	916K
Genco Shipping (GNK)	2007	$185M	$107M	28	98.7%	2.02M
Navios Maritime Holdings (NM)	2006	$206M	$21.1M	45	99.5%	3.6M

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[edit] Stock Valuation

[edit] Notes

[edit] References

1. ↑ Data From Yahoo Finance
2. ↑ ^{2.0 2.1 2.2 2.3} 2007 DSX, 20-F, Item 3. Page 4
3. ↑ 2007 DSX, 20-F, Item 4, Page 18
4. ↑ ^{4.0 4.1 4.2} 2006 DRYS, 20-F, Item 3, Page 2
5. ↑ ^{5.0 5.1} 2006 DRYS, 20-F, Item 4, Page 20
6. ↑ ^{6.0 6.1} 2007 EGLE, 10-K, Item 6, Page 32
7. ↑ ^{7.0 7.1} 2007 EGLE, 10-K, Item 6, Page 33
8. ↑ 2007 EGLE, 10-K, Item 1, Page 1
9. ↑ GNK , 2007 10-K, Item 6, Pg 40
10. ↑ GNK , 2007 10-K, Item 6, Pg 36
11. ↑ ^{11.0 11.1} GNK , 2007 10-K, Item 1, Pg 4
12. ↑ GNK , 2007 10-K, Item 7, Pg 41
13. ↑ ^{13.0 13.1} 2006 NM, 20-F, Item 3, Page 3
14. ↑ ^{14.0 14.1} 2006 NM, 20-F, Item 4, Page 19
15. ↑ 2006 NM, 20-F, Item 5, Page 51