GREEK dry bulk owner Diana Shipping has disclosed a 7.7 per cent equity stake in US-listed peer Genco Shipping & Trading, further stirring interest around the Manhattan-based bulker player.
A recent 13D filing with the US Securities and Exchange Commission shows the Semiramis Paliou-led Diana has acquired around 3.3 million shares in Genco, valued at roughly US$46 million.
The move makes Diana one of the largest shareholders in Genco, which operates a fleet of more than 40 vessels ranging from supramaxes to capesizes, with a total carrying capacity of around 4.44m dwt.
Diana's current fleet consists of 36 ships, from new castlemaxes and ultramaxes, with about 4.1m dwt on the water, reports Singapore's Splash 247.
The investment follows a series of strategic moves targeting the John Wobensmith-led company.
In late 2023, Greek shipping magnate George Economou took a 5.4 per cent stake and launched a proxy campaign before eventually exiting with a gain. In April, Singapore-based Berge Bulk paid approximately $42 million for a 7.3 per cent holding in the company.