Diana Shipping Inc. (NYSE:DSX) Q3 2022 Earnings Conference Call November 17, 2022 9:00 AM ET
Company Participants
Ed Nebb - IR
Semiramis Paliou - CEO
Anastasios Margaronis - President
Ioannis Zafirakis - CFO and CSO
Conference Call Participants
Operator
Greetings and welcome to Diana Shipping Inc. 2022 Third Quarter Conference Call and Webcast. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions]
It is now my pleasure to introduce your host, Mr. Ed Nebb, IR Advisor. Thank you, sir. Please go ahead.
Ed Nebb
Thank you, Donna and thanks to everyone who is joining us for the Diana Shipping, Inc. 2022 third quarter conference call. With us today, from management are Semiramis Paliou, Chief Executive Officer; Anastasios Margaronis, President; Ioannis Zafirakis, CFO, and Chief Strategy Officer, Treasurer, and Secretary; Eleftherios Papatrifon, Chief Operating officer; and Maria Dede, Chief Accounting Officer.
Without further ado, I will turn it over to Ms. Paliou.
Semiramis Paliou
Thank you, Ed. Good morning, ladies and gentlemen, and welcome to Diana Shipping Inc.'s third quarter 2022 earnings call. My name, as Ed said, is Semiramis Paliou, the company's CEO, and it is an honor to have the opportunity to present to you today.
Before I begin, I kindly ask everyone to review the forward-looking statements applicable to today's presentation, which can be found on page four of the accompanying third quarter's presentation.
The third quarter of 2022 has been another very profitable quarter for our company, but also has been a very busy and productive one with the acquisition of the nine vessel Ultramax fleet in August. While market conditions have become less robust, especially towards the end of the third quarter, our disciplined chartering strategy has allowed us to continue generating attractive free cash flows. As a result, we have announced another attractive dividend for this quarter continuing to reward our shareholders.
Turning to slide five, I will review with you the company snapshot as of today. This time around we do have changes since last quarter and we find ourselves owning an operating an expanded fleet of 40 vessels in the water, with a carrying capacity of approximately 4.7 million deadweight tons.
As already announced, we expect our fleet to increase to 43 vessels by the end of the year as we take delivery of the remaining three Ultramaxes within December. Our fleet utilization has remained at very high levels coming in at 99.1% for the nine months of 2022.