Diana Shipping Inc. has submitted a letter to the Board of Directors of Genco Shipping & Trading Limited proposing to acquire all outstanding Genco shares it does not already own for $20.60 per share in cash, the company said in a news release.
Diana currently holds about 14.8% of Genco’s outstanding shares.
According to the company, the offer reflects a 15% premium to Genco’s closing share price on November 21, 2025, a 21% premium to the closing price on July 17, 2025—the date when Diana first disclosed its ownership stake—and a 23% premium to the 30-day and 90-day volume-weighted average prices ending November 21, 2025. The company said the proposed price is also in line with Genco’s 10-year high and would provide shareholders with immediate cash value at a premium without exposure to market or industry risk.
Diana Shipping Inc. is a corporation organized in the Republic of the Marshall Islands. The company operates in the maritime transport industry, focusing on dry bulk shipping. Its business model centers on vessel ownership and bareboat charter arrangements, and it is overseen by a board of directors and an executive management team headquartered in Greece.
Genco Shipping & Trading Limited is a publicly listed company incorporated under the laws of the Marshall Islands. It conducts commercial operations in the dry bulk shipping sector through a fleet management structure that includes ownership and operation of oceangoing vessels. The company’s governance is carried out by its board of directors and executive management.
