Diana Shipping and Star Bulk Carriers have scrapped an agreement under which Star Bulk would have bought 16 Genco vessels after Diana's proposed takeover of Genco Shipping & Trading, but Diana said the change leaves its bid for the shares it does not already own unchanged and its $1.411 billion committed financing from six international banks intact. The offer remains $24.80 a share in cash, adjusted for Genco's recently declared $0.80 dividend, plus one Diana share valued at $2.54 using Diana's 30-day volume-weighted average price as of June 16, 2026, and carries no financing condition. Diana said nearly eight weeks have passed since its revised proposal without a substantive response from Genco's board, while Star Bulk said it withdrew because of the board's unwillingness to negotiate. Diana shares rose 3.36% to $2.46 in Tuesday trading and Star Bulk shares were down 0.07% at $28.40.