Greek dry bulk owner Diana Shipping has increased its stake in US-listed peer Genco Shipping & Trading.
Filing with the US Securities and Exchange Commission shows the Semiramis Paliou-led Diana paid a total of around $61.7m for 4.29m of Genco’s shares, corresponding to a 9.99% stake.
In July, Diana disclosed a 7.7% position in Genco (around 3.3m shares), becoming one of the largest shareholders in the John Wobensmith-led company.
Diana said the acquisition was made for investment purposes, using internal funds. No strategic move toward board nominations or activist campaigning has been announced, and the company has remained strategically below the 10% threshold, avoiding additional regulatory disclosures.
The move follows earlier share acquisitions at the Manhattan-based bulker player, which controls a fleet of over 40 ships from supramaxes to capesizes, by other shipping players. In late 2023, Greek shipping magnate George Economou took a 5.4% stake and launched a proxy campaign before eventually exiting with a gain. In April, Singapore-based Berge Bulk paid about $42m for a 7.3% holding in the company and raised it to 9.7% in July.
