Diana Shipping inc. (DSX.W) Q3 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 on the third quarter 2025 financial results. We are joined by the company's chief executive officer, Ms. Shamiramis Paiyu. 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 then 1 on your telephone keypad and wait for your name to be announced. Please note that this conference is being recorded. We now turn the floor over to Ms. Shamiramis Payu. Please go ahead. Good morning, ladies and gentlemen, and welcome to Diana Shipping Inc's Third Quarter 2025 Financial Results Conference Call. I'm Samira Mishpaliou, the CEO of the company, and it's my pleasure to present alongside our esteemed team Mr. Stacey Margaronis, Director and President, Mr. Ioannis Zafirakis, Director, Co-CFO and Chief Strategy Officer, Mr. Lesteris Papatrifon, Director, and Ms. Maria Reves, Co-CFO. Before we begin, I'd like to remind everyone to review the forward-looking statement on page four of the accompanying presentation. The drive-out market posted a solid performance in Q3. Cases, once again, have performed, especially towards the end of the quarter. Yet after a lackluster first half of the year, we finally saw some tailwinds in the Panamax sector. The main reason for this was the fact that China imported no soya beans from the US in September, which marked the first time since November 2018 that shipments fell to zero. This impact was somewhat offset by the fact that South American shipments surged from a year earlier, therefore increasing sun miles and providing upward pressure on the Panamax sector. Overall, bulk carrier markets picked up after a softer first half of 2025 due to a record September...