German shipowner acquires 5% stake in dry bulk specialist Diana Shipping

On 18 October, the Nikolaus H Schües-led shipowner disclosed a 5% stake in US-listed Diana, amounting to approximately 6.3M shares. Diana Shipping management told Riviera it has not engaged in any discussions with the new shareholder regarding its stake. F Laeisz has also been contacted for a comment.

Sources suggest F Laeisz may be reinvesting capital gained from selling its stake in the car carrier owner Gram Car Carriers, following a takeover deal with Mediterranean Shipping Co. The German shipowner was previously one of the largest shareholders of Gram Car Carriers. 

The investment in Diana Shipping signifies F Laeisz’s re-entry into the dry cargo sector. According to its website, the company’s fleet includes car carriers, container vessels, gas carriers, research vessels and river cruise ships. Notably, Mr Schües also serves as president of BIMCO.

Diana’s profile and new business ventures

Diana Shipping currently operates a fleet of 38 bulk carriers across all segments and is engaged in a newbuilding programme for two methanol-powered dual-fuel Kamsarmaxes.

The Greek owner has also diversified into the offshore sector. Diana Energize, a wholly owned subsidiary, is investing in a joint venture called Windward Offshore, aimed at constructing four commissioning service operation vessels at Vard. Diana’s partners in this venture include Blue Star Group GmbH & Cie KG, SeaRenergy Offshore Holding GmbH, and SeraVerse GmbH.

“We believe this venture will position the company and our partners to become a leading service provider to the offshore wind sector, which is an important element in the transition to a lower carbon future,” Diana Shipping’s management has emphasised.

Refinancing deal

In a separate development, Diana Shipping announced on 21 October it has secured a US$80M, seven-year term loan facility with Danish Ship Finance. The proceeds have been used to refinance the company’s existing loan facility with Danish Ship Finance, which was originally set to mature in April 2028.

“By strategically managing resources, the company aims to strengthen its financial position, allowing for greater adaptability and efficiency in its operations, ultimately supporting long-term growth and value creation for stakeholders,” commented Diana Shipping director, chief financial officer, chief strategy officer, treasurer, and secretary Ioannis Zafirakis.