{"success":true,"data":{"pressRelease":{"id":"38188","rtpr_id":"nGNX74m669","ticker":"GNK","exchange":"NYSE","all_tickers":["GNK"],"title":"Genco Shipping & Trading Limited Responds to Diana’s Latest Misleading Claims and Gamesmanship","author":"Globe Newswire","published_at":"2026-05-18T16:04:28.132Z","article_body":"Diana Shows its Hand Through Recent Stock Sales Underscoring Its Lack of\nCommitment to Creating Value for Genco Shareholders\n\nDiana’s Low-Ball Offer Continues to Undervalue Genco’s Assets and Business\nand Fails to Provide a Control Premium\n\nDiana May Attempt to “Empty Vote” Shares they No Longer Own\n\nNEW YORK, May 18, 2026 (GLOBE NEWSWIRE) -- Genco Shipping & Trading Limited\n(NYSE:GNK) (“Genco” or the “Company”), the largest U.S. headquartered\ndrybulk shipowner focused on the global transportation of commodities, today\nissued the following statement in response to Diana’s latest misleading\npress release:\n\nGenco continues to outperform the market and peers, including Diana, because\nof the successful execution of the Board and management team’s Comprehensive\nValue Strategy. Genco shareholders are poised to continue benefiting from\nrobust dividend payments and increasing valuations in a strengthening drybulk\nmarket.\n\nWe are surprised to see Diana selling shares during a time of rising asset\nvalues across the industry. The Genco Board of Directors believes Diana’s\ndecision to sell Genco’s stock raises questions of manipulation for the\nfollowing reasons:\n* * Diana put out a baseless stock price target in an attempt to drive down\nthe price of Genco shares.\n\n* Diana is selling shares to make a short-term profit, despite their stated\ninterest in acquiring the entire Company at a fair price.\n\n* Diana is threatening the market, claiming to be a seller without\nsimultaneously disclosing the volume, timing, price or manner of such stock\nsales.\nDespite Diana’s claims, we believe Genco’s share price trajectory has not\nbeen affected by Diana’s inadequate offers and proposals. Since Diana’s\ninitial offer, Genco’s stock price has trended in line with peers during a\nperiod of rising valuations and freight rates across the industry. As a\nshipowner and operator, Diana should be well aware of increasing values across\nthe drybulk sector even if their strategic decisions are preventing them from\ncapturing upside in this market.\n\nIn fact, in today’s disclosure, Diana now admits that valuations have risen.\nThey cite a net asset value (“NAV”) for Genco that is higher than they\nrecently claimed and higher than their offer to Genco shareholders. It is also\nstill lower than Genco’s mean sell-side analyst NAV estimate of $26.54 and\nthe current median analyst estimate of $26.80.(1)\n\nWe urge Genco shareholders not to be misled. Diana continues to seek to\nacquire the Company on the cheap. The Board unanimously rejected Diana’s\ntender offer after receiving opinions from both Jefferies and Morgan Stanley,\neach confirming that the offer was inadequate from a financial point of view.\n\nIn addition to the stock sales they are claiming to have made, Diana may also\nnow attempt to vote shares they sold at the 2026 Annual Meeting of\nShareholders to the extent they owned those shares as of the record date\n(“empty voting”).\n\nThe Genco Board of Directors continues to recommend that Genco shareholders\nreject Diana’s wholly inadequate $23.50 tender offer by not tendering their\nshares. The Board urges shareholders to protect their investments by\nvoting “FOR” the reelection of Genco’s six directors and according to\nthe Board’s other recommendations on the Company’s WHITE proxy\ncard, “WITHHOLD” on Diana’s nominees and “AGAINST” Diana’s\nshareholder proposals.\n\nJefferies LLC is acting as financial advisor to Genco and Herbert Smith\nFreehills Kramer (US) LLP and Sidley Austin LLP are serving as legal counsel\nto Genco. Morgan Stanley & Co. LLC is acting as special advisor to the Board\nof Directors.\n\nAbout Genco Shipping & Trading Limited\n\nGenco Shipping & Trading Limited is a U.S. based drybulk ship owning company\nfocused on the seaborne transportation of commodities globally. We transport\nkey cargoes such as iron ore, coal, grain, steel products, bauxite, cement,\nnickel ore among other commodities along worldwide shipping routes. Our wholly\nowned high quality, modern fleet of dry cargo vessels consists of the larger\nNewcastlemax and Capesize vessels (major bulk) and the medium-sized Ultramax\nand Supramax vessels (minor bulk), enabling us to carry a wide range of\ncargoes. Genco’s fleet consists of 43 vessels with an average age of 12.6\nyears and an aggregate capacity of approximately 4,935,000 dwt.\n\nForward-Looking Statements\n\nThis communication contains statements that may constitute forward-looking\nstatements. These statements include, but are not limited to: statements\nrelated to the Company’s views and expectations regarding Diana Shipping\nInc.’s unsolicited tender offer; any statements relating to the plans,\nstrategies and objectives of management or the Company’s Board for future\noperations and activities; any statements concerning the expected development,\nperformance, market share or competitive performance relating to products or\nservices; any statements regarding current or future macroeconomic trends or\nevents and the impact of those trends and events on the Company and its\nfinancial performance; and any statements of assumptions underlying any of the\nforegoing. Forward-looking statements can be identified by the fact that they\ndo not relate strictly to historic or current facts and often use words such\nas “anticipate,” “budget,” “estimate,” “expect,”\n“project,” “intend,” “plan,” “believe,” and other words and\nterms of similar meaning in connection with a discussion of potential future\nevents, circumstances or future operating or financial performance. These\nforward-looking statements are based on our management’s current\nexpectations and observations. Included among the factors that, in our view,\ncould cause actual results to differ materially from the forward looking\nstatements contained in this release are the following: (i) the Company’s\nplans and objectives for future operations; (ii) that any transaction based on\nDiana’s non-binding indicative proposal or otherwise may not be consummated\nat all; (iii) the ability of Genco and its shareholders to recognize the\nanticipated benefits of any such transaction; (iv) the exercise of the\ndiscretion of our Board regarding the declaration of dividends, including\nwithout limitation the amount that our Board determines to set aside for\nreserves under our dividend policy; and (v) other factors listed from time to\ntime in our filings with the SEC, including, without limitation, our Annual\nReport on Form 10-K for the year ended December 31, 2025 and subsequent\nreports on Form 8-K and Form 10-Q. Our ability to pay dividends in any period\nwill depend upon various factors, including the limitations under any credit\nagreements to which we may be a party, applicable provisions of Marshall\nIslands law and the final determination by the Board of Directors each quarter\nafter its review of our financial performance, market developments, and the\nbest interests of the Company and its shareholders. The timing and amount of\ndividends, if any, could also be affected by factors affecting cash flows,\nresults of operations, required capital expenditures, or reserves.  As a\nresult, the amount of dividends actually paid may vary. In addition, the\nforward-looking statements included in this communication represent the\nCompany’s views as of the date of this communication and these views could\nchange. However, while the Company may elect to update these forward-looking\nstatements at some point, the Company specifically disclaims any obligation to\ndo so, other than as required by federal securities laws. These\nforward-looking statements should not be relied upon as representing the\nCompany’s views as of any date subsequent to the date of this communication.\n\nImportant Information for Investors and Shareholders\n\nThis communication does not constitute an offer to buy or solicitation of an\noffer to sell any securities. The Company has filed a\nsolicitation/recommendation statement on Schedule 14D-9 with the SEC\n(available here\n(https://www.globenewswire.com/Tracker?data=6xxPyVwNbh33kPj5I7YomuEZsfIn8mPijKWMkz9vFuyZCwKc0I2M9Tpsm-ekuCZuinB6CF31LGoBksoBv-RDSp9r18e1GP0LZgXezq5h3YyqUKFhMW3EIvsweZPJg6sKkTkGanNNqDOGPEcZzKcsd871vDxRFCfn2QC6tdhuvEFFcvtPp-mJYSwk_Nj_rD-OzRb7yrKXmkORZKDQpNEITAg421k2RBNUdOkzhLDfRkqYUiZgIcsZAa7br4fEBH2VJBr81aoRvGpc9pH8mE8N-F4wU-jv035Py_lRspSQVJIp-gUUV3_AB4zE1VLn35PL9mtXp9QtETO96J59_flBow==)).\nAny solicitation/recommendation statement filed by the Company that is\nrequired to be mailed to shareholders will be mailed to shareholders. THE\nCOMPANY’S INVESTORS AND SHAREHOLDERS ARE STRONGLY ENCOURAGED TO READ THE\nCOMPANY’S SOLICITATION/RECOMMENDATION STATEMENT (INCLUDING ANY AMENDMENTS OR\nSUPPLEMENTS THERETO) AND ALL OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND\nIN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN\nIMPORTANT INFORMATION. Investors and shareholders may obtain a copy of the\nsolicitation/recommendation statement on Schedule 14D-9, any amendments or\nsupplements thereto and other documents filed by the Company with the SEC at\nno charge at the SEC’s website at www.sec.gov. Copies will also be\navailable at no charge by clicking the “SEC Filings” link in the\n“Financials” section of the Company’s investor relations website\nat https://investors.gencoshipping.com/, or by contacting Peter Allen as soon\nas reasonably practicable after such materials are electronically filed with,\nor furnished to, the SEC.\n\nImportant Additional Information and Where to Find It\n\nThe Company has filed a definitive proxy statement on Schedule 14A, an\naccompanying WHITE proxy card, and other relevant documents with the SEC in\nconnection with the solicitation of proxies from the Company’s shareholders\nfor the Company’s 2026 Annual Meeting of Shareholders. THE COMPANY’S\nSHAREHOLDERS ARE STRONGLY ENCOURAGED TO READ THE COMPANY’S DEFINITIVE PROXY\nSTATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO), THE\nACCOMPANYING WHITE PROXY CARD, AND ANY OTHER DOCUMENTS FILED OR TO BE FILED\nWITH THE SEC CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN IMPORTANT\nINFORMATION. Shareholders may obtain a free copy of the definitive proxy\nstatement, an accompanying WHITE proxy card, any amendments or supplements\nto the definitive proxy statement, and other documents that the Company files\nwith the SEC at no charge from the SEC’s website at www.sec.gov. Copies\nwill also be available at no charge by clicking the “SEC Filings” link in\nthe “Financials” section of the Company’s investor relations website\nat https://investors.gencoshipping.com/.\n(https://www.globenewswire.com/Tracker?data=fnCtvnDRwjzbiRjvvq2cD8u8uXkJzxtOYSvOcnB2Wt95RZ4bnSMSJ90l4NGz4VlQ3SsDb0E5EoQUNu50KLK2qcDSwjRtJTttqi67Uibg48Z6w0pTlNcVLq807aZ3DAZCkms2HeCrjCXoK7jXOO8TmMltcYp69Uf7sKyl8AsOzpVtnFmkeN8zLyE5cLqoJkKncImCUxGdW47VhASk0I2IslxVCzJ98qJpJAb1_fw006D2n7Brib7eEgHRWTAao6W4aJJYPIgig1Un3z1ojJl8_l-UPoNtqK2n57HgcLkL_ODaIC6psGx6kb8qufrzSlQF-Iybs9XmVZbWChjVXNpAc5uQAzlSqqQRYesD4xZbK3poZH6vs9Vm24sllPV896omQ5DoDbf12rC1GbcOuEYRo3hRQdsAcLj7sFUSUv-KPCzRU4L_XBmrQtAo-gtRe8xCweJB0Sz1VcHEmRbosJ1SKz4aoAm7PmXRH4ZmSsnef1J51VgSlfTOp78o1c-6yL0CB6giAsmzgCBH6Xd-2JY5JWy-BwdNKlMGQn28qIQti2Na6lMuWRQIUZMGmf0FF1wANafSDobzQiIxyPqEAOKhcJvZVZs0cF7iJzRBUdUqFOa3vaELdN1m-KsTecwlx3qzWbFdINzgGJA_nqFWCUIOaL5ZinCJZ26xjks9AxScLzTMXVad_CTWptUhzDfKfpO_)\n\nInvestor Contact\n\nPeter Allen\nChief Financial Officer\nGenco Shipping & Trading Limited\n(646) 443-8550\n\nMedia Contact\n\nLeon Berman\nIGB Group\n(212) 477-8438\nlberman@igbir.com\n\n(1) Calculated based on NAV estimates published by SEB, Clarkson Securities,\nFearnley Securities, Deutsche Bank and Pareto.\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/cba8f69f-b632-4f2a-857f-fd93ff625be0)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX74m669","title":"Genco Shipping & Trading Limited Responds to Diana’s Latest Misleading Claims and Gamesmanship","author":"Globe Newswire","ticker":"GNK","created":"2026-05-18T16:04:28.132Z","tickers":["GNK"],"exchange":"NYSE","article_body":"Diana Shows its Hand Through Recent Stock Sales Underscoring Its Lack of\nCommitment to Creating Value for Genco Shareholders\n\nDiana’s Low-Ball Offer Continues to Undervalue Genco’s Assets and Business\nand Fails to Provide a Control Premium\n\nDiana May Attempt to “Empty Vote” Shares they No Longer Own\n\nNEW YORK, May 18, 2026 (GLOBE NEWSWIRE) -- Genco Shipping & Trading Limited\n(NYSE:GNK) (“Genco” or the “Company”), the largest U.S. headquartered\ndrybulk shipowner focused on the global transportation of commodities, today\nissued the following statement in response to Diana’s latest misleading\npress release:\n\nGenco continues to outperform the market and peers, including Diana, because\nof the successful execution of the Board and management team’s Comprehensive\nValue Strategy. Genco shareholders are poised to continue benefiting from\nrobust dividend payments and increasing valuations in a strengthening drybulk\nmarket.\n\nWe are surprised to see Diana selling shares during a time of rising asset\nvalues across the industry. The Genco Board of Directors believes Diana’s\ndecision to sell Genco’s stock raises questions of manipulation for the\nfollowing reasons:\n* * Diana put out a baseless stock price target in an attempt to drive down\nthe price of Genco shares.\n\n* Diana is selling shares to make a short-term profit, despite their stated\ninterest in acquiring the entire Company at a fair price.\n\n* Diana is threatening the market, claiming to be a seller without\nsimultaneously disclosing the volume, timing, price or manner of such stock\nsales.\nDespite Diana’s claims, we believe Genco’s share price trajectory has not\nbeen affected by Diana’s inadequate offers and proposals. Since Diana’s\ninitial offer, Genco’s stock price has trended in line with peers during a\nperiod of rising valuations and freight rates across the industry. As a\nshipowner and operator, Diana should be well aware of increasing values across\nthe drybulk sector even if their strategic decisions are preventing them from\ncapturing upside in this market.\n\nIn fact, in today’s disclosure, Diana now admits that valuations have risen.\nThey cite a net asset value (“NAV”) for Genco that is higher than they\nrecently claimed and higher than their offer to Genco shareholders. It is also\nstill lower than Genco’s mean sell-side analyst NAV estimate of $26.54 and\nthe current median analyst estimate of $26.80.(1)\n\nWe urge Genco shareholders not to be misled. Diana continues to seek to\nacquire the Company on the cheap. The Board unanimously rejected Diana’s\ntender offer after receiving opinions from both Jefferies and Morgan Stanley,\neach confirming that the offer was inadequate from a financial point of view.\n\nIn addition to the stock sales they are claiming to have made, Diana may also\nnow attempt to vote shares they sold at the 2026 Annual Meeting of\nShareholders to the extent they owned those shares as of the record date\n(“empty voting”).\n\nThe Genco Board of Directors continues to recommend that Genco shareholders\nreject Diana’s wholly inadequate $23.50 tender offer by not tendering their\nshares. The Board urges shareholders to protect their investments by\nvoting “FOR” the reelection of Genco’s six directors and according to\nthe Board’s other recommendations on the Company’s WHITE proxy\ncard, “WITHHOLD” on Diana’s nominees and “AGAINST” Diana’s\nshareholder proposals.\n\nJefferies LLC is acting as financial advisor to Genco and Herbert Smith\nFreehills Kramer (US) LLP and Sidley Austin LLP are serving as legal counsel\nto Genco. Morgan Stanley & Co. LLC is acting as special advisor to the Board\nof Directors.\n\nAbout Genco Shipping & Trading Limited\n\nGenco Shipping & Trading Limited is a U.S. based drybulk ship owning company\nfocused on the seaborne transportation of commodities globally. We transport\nkey cargoes such as iron ore, coal, grain, steel products, bauxite, cement,\nnickel ore among other commodities along worldwide shipping routes. Our wholly\nowned high quality, modern fleet of dry cargo vessels consists of the larger\nNewcastlemax and Capesize vessels (major bulk) and the medium-sized Ultramax\nand Supramax vessels (minor bulk), enabling us to carry a wide range of\ncargoes. Genco’s fleet consists of 43 vessels with an average age of 12.6\nyears and an aggregate capacity of approximately 4,935,000 dwt.\n\nForward-Looking Statements\n\nThis communication contains statements that may constitute forward-looking\nstatements. These statements include, but are not limited to: statements\nrelated to the Company’s views and expectations regarding Diana Shipping\nInc.’s unsolicited tender offer; any statements relating to the plans,\nstrategies and objectives of management or the Company’s Board for future\noperations and activities; any statements concerning the expected development,\nperformance, market share or competitive performance relating to products or\nservices; any statements regarding current or future macroeconomic trends or\nevents and the impact of those trends and events on the Company and its\nfinancial performance; and any statements of assumptions underlying any of the\nforegoing. Forward-looking statements can be identified by the fact that they\ndo not relate strictly to historic or current facts and often use words such\nas “anticipate,” “budget,” “estimate,” “expect,”\n“project,” “intend,” “plan,” “believe,” and other words and\nterms of similar meaning in connection with a discussion of potential future\nevents, circumstances or future operating or financial performance. These\nforward-looking statements are based on our management’s current\nexpectations and observations. Included among the factors that, in our view,\ncould cause actual results to differ materially from the forward looking\nstatements contained in this release are the following: (i) the Company’s\nplans and objectives for future operations; (ii) that any transaction based on\nDiana’s non-binding indicative proposal or otherwise may not be consummated\nat all; (iii) the ability of Genco and its shareholders to recognize the\nanticipated benefits of any such transaction; (iv) the exercise of the\ndiscretion of our Board regarding the declaration of dividends, including\nwithout limitation the amount that our Board determines to set aside for\nreserves under our dividend policy; and (v) other factors listed from time to\ntime in our filings with the SEC, including, without limitation, our Annual\nReport on Form 10-K for the year ended December 31, 2025 and subsequent\nreports on Form 8-K and Form 10-Q. Our ability to pay dividends in any period\nwill depend upon various factors, including the limitations under any credit\nagreements to which we may be a party, applicable provisions of Marshall\nIslands law and the final determination by the Board of Directors each quarter\nafter its review of our financial performance, market developments, and the\nbest interests of the Company and its shareholders. The timing and amount of\ndividends, if any, could also be affected by factors affecting cash flows,\nresults of operations, required capital expenditures, or reserves.  As a\nresult, the amount of dividends actually paid may vary. In addition, the\nforward-looking statements included in this communication represent the\nCompany’s views as of the date of this communication and these views could\nchange. However, while the Company may elect to update these forward-looking\nstatements at some point, the Company specifically disclaims any obligation to\ndo so, other than as required by federal securities laws. These\nforward-looking statements should not be relied upon as representing the\nCompany’s views as of any date subsequent to the date of this communication.\n\nImportant Information for Investors and Shareholders\n\nThis communication does not constitute an offer to buy or solicitation of an\noffer to sell any securities. The Company has filed a\nsolicitation/recommendation statement on Schedule 14D-9 with the SEC\n(available here\n(https://www.globenewswire.com/Tracker?data=6xxPyVwNbh33kPj5I7YomuEZsfIn8mPijKWMkz9vFuyZCwKc0I2M9Tpsm-ekuCZuinB6CF31LGoBksoBv-RDSp9r18e1GP0LZgXezq5h3YyqUKFhMW3EIvsweZPJg6sKkTkGanNNqDOGPEcZzKcsd871vDxRFCfn2QC6tdhuvEFFcvtPp-mJYSwk_Nj_rD-OzRb7yrKXmkORZKDQpNEITAg421k2RBNUdOkzhLDfRkqYUiZgIcsZAa7br4fEBH2VJBr81aoRvGpc9pH8mE8N-F4wU-jv035Py_lRspSQVJIp-gUUV3_AB4zE1VLn35PL9mtXp9QtETO96J59_flBow==)).\nAny solicitation/recommendation statement filed by the Company that is\nrequired to be mailed to shareholders will be mailed to shareholders. THE\nCOMPANY’S INVESTORS AND SHAREHOLDERS ARE STRONGLY ENCOURAGED TO READ THE\nCOMPANY’S SOLICITATION/RECOMMENDATION STATEMENT (INCLUDING ANY AMENDMENTS OR\nSUPPLEMENTS THERETO) AND ALL OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND\nIN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN\nIMPORTANT INFORMATION. Investors and shareholders may obtain a copy of the\nsolicitation/recommendation statement on Schedule 14D-9, any amendments or\nsupplements thereto and other documents filed by the Company with the SEC at\nno charge at the SEC’s website at www.sec.gov. Copies will also be\navailable at no charge by clicking the “SEC Filings” link in the\n“Financials” section of the Company’s investor relations website\nat https://investors.gencoshipping.com/, or by contacting Peter Allen as soon\nas reasonably practicable after such materials are electronically filed with,\nor furnished to, the SEC.\n\nImportant Additional Information and Where to Find It\n\nThe Company has filed a definitive proxy statement on Schedule 14A, an\naccompanying WHITE proxy card, and other relevant documents with the SEC in\nconnection with the solicitation of proxies from the Company’s shareholders\nfor the Company’s 2026 Annual Meeting of Shareholders. THE COMPANY’S\nSHAREHOLDERS ARE STRONGLY ENCOURAGED TO READ THE COMPANY’S DEFINITIVE PROXY\nSTATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO), THE\nACCOMPANYING WHITE PROXY CARD, AND ANY OTHER DOCUMENTS FILED OR TO BE FILED\nWITH THE SEC CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN IMPORTANT\nINFORMATION. Shareholders may obtain a free copy of the definitive proxy\nstatement, an accompanying WHITE proxy card, any amendments or supplements\nto the definitive proxy statement, and other documents that the Company files\nwith the SEC at no charge from the SEC’s website at www.sec.gov. Copies\nwill also be available at no charge by clicking the “SEC Filings” link in\nthe “Financials” section of the Company’s investor relations website\nat https://investors.gencoshipping.com/.\n(https://www.globenewswire.com/Tracker?data=fnCtvnDRwjzbiRjvvq2cD8u8uXkJzxtOYSvOcnB2Wt95RZ4bnSMSJ90l4NGz4VlQ3SsDb0E5EoQUNu50KLK2qcDSwjRtJTttqi67Uibg48Z6w0pTlNcVLq807aZ3DAZCkms2HeCrjCXoK7jXOO8TmMltcYp69Uf7sKyl8AsOzpVtnFmkeN8zLyE5cLqoJkKncImCUxGdW47VhASk0I2IslxVCzJ98qJpJAb1_fw006D2n7Brib7eEgHRWTAao6W4aJJYPIgig1Un3z1ojJl8_l-UPoNtqK2n57HgcLkL_ODaIC6psGx6kb8qufrzSlQF-Iybs9XmVZbWChjVXNpAc5uQAzlSqqQRYesD4xZbK3poZH6vs9Vm24sllPV896omQ5DoDbf12rC1GbcOuEYRo3hRQdsAcLj7sFUSUv-KPCzRU4L_XBmrQtAo-gtRe8xCweJB0Sz1VcHEmRbosJ1SKz4aoAm7PmXRH4ZmSsnef1J51VgSlfTOp78o1c-6yL0CB6giAsmzgCBH6Xd-2JY5JWy-BwdNKlMGQn28qIQti2Na6lMuWRQIUZMGmf0FF1wANafSDobzQiIxyPqEAOKhcJvZVZs0cF7iJzRBUdUqFOa3vaELdN1m-KsTecwlx3qzWbFdINzgGJA_nqFWCUIOaL5ZinCJZ26xjks9AxScLzTMXVad_CTWptUhzDfKfpO_)\n\nInvestor Contact\n\nPeter Allen\nChief Financial Officer\nGenco Shipping & Trading Limited\n(646) 443-8550\n\nMedia Contact\n\nLeon Berman\nIGB Group\n(212) 477-8438\nlberman@igbir.com\n\n(1) Calculated based on NAV estimates published by SEB, Clarkson Securities,\nFearnley Securities, Deutsche Bank and Pareto.\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/cba8f69f-b632-4f2a-857f-fd93ff625be0)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-05-18T16:04:28.192188435Z","server_sent_at_ms":1779120268192},"received_at":"2026-05-18T16:04:28.252Z","source_url":null},"analysis":{"id":"27630","press_release_id":"38188","analysis_json":{"industry":{"label":"Marine","sector":"Industrials"},"redFlags":["Hostile takeover attempt creates uncertainty and potential for prolonged proxy fight","Accusations of market manipulation and 'empty voting' by the acquirer"],"eventType":"m_and_a","narrative":"Genco Shipping rejected Diana Shipping’s $23.50 per share tender offer as financially inadequate, citing opinions from Jefferies and Morgan Stanley.\n\nThe company accused Diana of selling shares to profit from rising asset values while simultaneously attempting to drive down Genco’s stock price with baseless targets.\n\nGenco’s board urged shareholders to reject the offer and vote for the reelection of Genco’s directors, warning that Diana may attempt to vote shares it has already sold.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Genco fights back against Diana’s hostile bid, citing $26+ analyst NAV vs $23.50 offer."},"keyFigures":{"dealValueUsd":23.5,"customDimensions":{"fleet_size":43,"mean_analyst_nav":26.54,"diana_nav_estimate":"higher than recent claims but lower than offer","fleet_capacity_dwt":4935000,"median_analyst_nav":26.8,"fleet_avg_age_years":12.6}},"quotedText":"Diana continues to seek to acquire the Company on the cheap.","namedEntities":{"people":[{"name":"Peter Allen","role":"CFO"},{"name":"Leon Berman","role":"Media Contact"}],"products":[],"companies":[{"name":"Genco Shipping & Trading Limited","ticker":"GNK","relationship":"filer"},{"name":"Diana Shipping Inc.","ticker":"DSX","relationship":"acquirer"},{"name":"Jefferies LLC","relationship":"financial advisor"},{"name":"Morgan Stanley & Co. LLC","relationship":"special advisor"},{"name":"Herbert Smith Freehills Kramer (US) LLP","relationship":"legal counsel"},{"name":"Sidley Austin LLP","relationship":"legal counsel"},{"name":"IGB Group","relationship":"PR agency"}],"dollarAmounts":[{"amount":"$23.50","context":"Diana's tender offer price per share"},{"amount":"$26.54","context":"mean sell-side analyst NAV estimate"},{"amount":"$26.80","context":"median sell-side analyst NAV estimate"}]},"materialImpact":{"score":3,"reasoning":"The filer is actively defending against a hostile tender offer, rejecting it as inadequate based on financial advisor opinions, and urging shareholders to vote against the acquirer's board nominees. 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