Why did DSX miss Q4 earnings forecasts?

Diana Shipping (DSX) missed its Q4 earnings forecasts due to a combination of factors:

1. **Decrease in Time Charter Revenues**: The company's time charter revenues decreased from $62.1 million in Q3 2023 to $57.5 million in Q3 2024. This decline is a significant factor in the lower-than-expected earnings.
2. **Strategic Charter Extensions**: While the company has secured charter extensions, such as for the m/v Amphitrite, these extensions have been at reduced rates. The gross charter rate for the Amphitrite is $8,750 per day for the first 50 days and $12,100 per day for the balance period, which is lower than the rates for the previous extension.
3. **Market Conditions**: The broader shipping market has been challenging, with depressed earnings and dividend cuts. These market conditions have likely impacted Diana Shipping's profitability.

In summary, DSX's Q4 earnings were lower than expected due to a decrease in time charter revenues and strategic charter extensions at reduced rates, amid challenging market conditions.