Diana Shipping inc. (DSX.W) Q2 2025 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 second quarter 2025 financial results. We are joined by the company's Chief Executive Officer, Ms. Semiramis Payou. 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, please 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 Payou. Please go ahead. Thank you. Good morning, ladies and gentlemen, and welcome to Diana Shipping Inc.'s second quarter 2025 financial results conference call. It's my pleasure to present alongside our esteemed team Mr. Stacey Margaroni, Director and President, Mr. Ioannis Zafiraki, Director, Co-CFO and Chief Strategy Officer, and Ms. Maria Dedek, Co-CFO. Before we begin, I'd like to remind everyone to review the forward-looking statements on page 4 of the accompanying presentation. The dry box market posted a mixed performance in Q2. CASE once again outperformed the smaller segments as West African box size exports surged, Chinese iron ore demand held steady, and Australian miners pushed hard into their fiscal year-end. Cape fleet growth slowed to a crawl, slipping below .5% -on-year, as only six New Castle maxes and three standard capes joined the fleet. A different story for the other sizes, with fleet growth of .7% and .5% -on-year for Panama and geared bulk carriers respectively. Overall, bulk carrier markets have been softer in the first half of 2025, with average sector earnings down by about 30% -on-year amid weaker demand trends in key commodities. U.S. government policy remained in focus during the quarter after the br...