Joel Ramin's 12 West Capital Management has grown its stake in Diana Shipping.
12 West, a key backer of sibling Diana Containerships, revealed a 4,224,489 shares holding in the bulker specialist this week.
Its 5.1% stake is worth over $11m based on the previous closing price of New York-listed Diana Shipping.
12 West is the largest external shareholder in Diana Containerships, with its 25% holding just fractionally less than the position held by Diana Shipping.
