Diana Shipping is looking to repurchase a second round of its own stock since the fall.
The New York-listed company has begun a tender offer to buy up to 5.2 million shares at $2.80 each with cash on hand.
The offer, which represents 4.9% of shares outstanding, will end 27 March unless extended or withdrawn.
"The board of directors determined that it is in the company’s best interest to repurchase shares at this time given Diana Shipping’s cash position and stock price," the company said.
