2024-04-02 05:48:15 ET
Summary
- Demand for dry bulk transportation is expected to grow due to supply constraints and robust demand for commodities. So, dry bulk shipping stocks remain attractive.
- Diana Shipping reported declining revenue and profits in FY23, although the company maintains adequate margins and ROE and distributes an attractive dividend.
- On the other hand, DSX is not the best option to bet on a dry bulk theme, considering its leveraged balance sheet and declining revenue projections.
- I give DSX stock a hold rating due to its inferior fleet specs and risk of dividend cuts.
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Diana Shipping's Leveraged Balance Sheet And Inferior Fleet Specifications Make It A Hold