09:37 AM EST, 11/24/2025 (MT Newswires) -- Diana Shipping ( DSX ) said Monday it has submitted a letter to the board of Genco Shipping and Trading ( GNK ) with a proposal to buy all shares of Genco it does not already own for $20.60 per share in cash.

Diana said it now owns about 14.8% of Genco's shares.

The proposal is a non-binding expression of interest, Diana said.

Genco shares rose past 8% in recent trading, while Diana was 0.3% lower.