Diana Shipping inc. (DSX.W) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for standing by, ladies and gentlemen. Welcome to the Diana Shipping, Inc. conference call for the first quarter 2025 financial results. At this time, all participants are in listen-only mode. There'll be a presentation followed by a question and answer session, at which time, if you'd like to ask a question, you may do so by pressing star one on your telephone keypad. As a reminder, this conference is being recorded. It's now my pleasure to turn the call over to Ms. Semiramis Palu. Please go ahead. Thank you. Good morning, ladies and gentlemen, and welcome to Diana Shipping Inc. First Quarter 2025 Financial Results Conference Call. I'm Samira Misfayou, the CEO of the company, and it's my pleasure to present alongside our esteemed team, Mr. Stacey Malgaronis, Director and President, Mr. Ioannis Zafirakis, Director, Co-CFO and Chief Strategy Officer, Mr. Lefteris Papatrifon, Director, Ms. Maria Dede, Co-President, Before we begin, I'd like to remind everyone to review the forward-looking statements on page four of the accompanying presentation. After a record year for dry bulk volumes through 2024, the market seems to have taken a general breather. This can be attributed to the current global uncertainty, both economical as well as geopolitical. Even though industry segments, which are tariff sensitive, such as container vessels, are very volatile, the dryback market has been dull and uninspiring so far this year, except for a significant dip in February. The overall market levels are still historically healthy, but sentiment is clearly lacking, even though cargo volumes are stable compared to the same period in 2024. Nowhere is this more evident than in the new building market, where dry bulk vessel contracting so far this year has slumped to only 0.1% of t...