Diana Shipping inc. (DSX.W) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for standing by, ladies and gentlemen, and welcome to the Diana Shipping, Inc. conference call on the first quarter 2026 financial results. We are joined by the company's chief executive officer, Ms. Semiramis Paiu. At this time, all participants are in a listen-only mode. There will be a presentation followed by a Q&A session. To ask a question, press star 1 on your telephone keypad and wait for your name to be announced. Please note that this conference is being recorded. We will now turn the floor over to Ms. Semiramis Paliu. Please go ahead. Thank you. Good morning, ladies and gentlemen. Welcome to Diana Chipping's first quarter 2026 financial results conference call. I am Semiramis Paliu, the CEO of the company, and it's my pleasure to present alongside our esteemed team, Mr. Ioannis Zafirakis, Director and President, Ms. Maria Vedic, Co-CFO and Treasurer, Mr. Dave Vanderlinden, Chief Financial Officer of Diana Shipping Services SA. Before we begin, I'd like to remind everyone to review the forward-looking statements on page four of the accompanying presentation. The first quarter of 2026 continued to show strong momentum, which carried over from last year. The usual seasonal slowdown in Q1 did not happen, and the Cape size market had its best first quarter since 2010. Again, this was due to several factors, none of them necessarily demand-driven. We saw more utilization tightening caused by longer ton miles, a substantial dry dock schedule, and the situation in the Strait of Hormuz. The Middle East conflict not only caused part of the dry bulk fleet to be tied up in that area, but also an overall reduction in operating speeds, especially on the long haul routes. Cape-sized vessels were the strongest movers, but this time we have also seen a marked imp...