Diana Shipping, Inc. (NYSE:DSX) shares rose on Tuesday after the company and Star Bulk Carriers Corp. (NASDAQ:SBLK) mutually terminated a vessel sale-and-purchase agreement tied to Diana’s proposed acquisition of Genco Shipping & Trading Limited (NYSE:GNK).
The development puts fresh attention on Diana’s ongoing effort to acquire Genco, with the company emphasizing that the end of the vessel agreement does not alter the terms or financing of its proposed transaction.
Vessel Deal Terminated
Under the terminated agreement, Star Bulk would have acquired 16 Genco vessels following completion of Diana’s proposed takeover of Genco.
Diana said the termination does not affect its offer to acquire all Genco shares it does not already own.
The proposal includes $24.80 per share in cash, adjusted for Genco’s recently declared $0.80 dividend, plus one Diana share valued at $2.54 based on Diana’s 30-day volume-weighted average price as of June 16, 2026.
$1.411 Billion Financing Remains Intact
The company also said its $1.411 billion in committed financing remains intact. Six international banks have committed the financing, and the proposed transaction carries no financing condition.
Diana said nearly eight weeks have passed since it submitted its revised offer and that Genco’s board has yet to provide a substantive response.
Executives Comment On Genco Proposal
“The termination of the agreement eliminates one of Genco’s concerns regarding our proposal and our fully financed offer remains on the table,” Diana CEO Semiramis Paliou said.
She added that the company continues to call on Genco’s board to engage directly and in good faith.
Star Bulk CEO Petros Pappas said the company withdrew from the vessel purchase agreement because of what he described as Genco’s unwillingness to negotiate, while reiterating support for the financial and strategic merits of Diana’s proposed acquisition.
Critical Technical Levels for DSX Stock
From a longer-term trend view, DSX is still acting like an uptrend that’s trying to re-assert itself: the stock is trading 6.3% above its 20-day SMA ($2.28) and 7.9% above its 50-day SMA ($2.24), which typically signals buyers are defending pullbacks rather than selling rallies.
The bigger tell is the crossover structure—20-day SMA above the 50-day SMA, plus the golden cross (50-day above the 200-day) that formed in September 2025—both of which tend to keep the technical bias pointed higher unless price loses key support.
Momentum-wise, MACD is above its signal line with a positive histogram, which leans toward improving upside pressure versus the prior downswing; in plain English, that “above the signal line” setup often shows sellers are losing control even if the move is still choppy.
- Key Resistance: $2.50 — a nearby round-number area where rebounds can stall, especially with price already extended above the short-term averages
- Key Support: $2.00 — a major psychological level that can act as a line-in-the-sand if the current uptrend attempt fades
Stock Price Activity: Diana Shipping shares were up 3.36% at $2.46, and SBLK was down 0.07% at $28.40 at the last check on Tuesday, according to Benzinga Pro data.
Image by Bjoern Wylezich via Shutterstock
