DIANA SHIPPING INC. announces the acquisition of a capesize dry bulk carrier

News, Sales and Purchases, Stock Markets — By on April 9, 2013 at 1:03 PM

sideris GS FUNNELATHENS, GREECE, April 9, 2013 – Diana Shipping Inc. (NYSE: DSX), a global shipping company specializing in the ownership and operation of dry bulk vessels, today announced that it signed yesterday, through a separate wholly-owned subsidiary (the “Buyer”), a Memorandum of Agreement to purchase from an unaffiliated third party the m/v “Tamou”, a 2005 built Capesize dry bulk carrier of 177, 243 dwt, for a purchase price of US$27, 020, 202, less one percent address commission to the Buyer. The vessel, to be renamed “Baltimore”, is expected to be delivered to the Buyer by the end of May 2013. 

Including the aforementioned vessel Diana Shipping Inc.’s fleet currently consists of 33 dry bulk carriers (2 Newcastlemax, 9 Capesize, 3 Post-Panamax, 2 Kamsarmax and 17 Panamax) as well as 2 new-building Ice Class Panamax vessels expected to be delivered to the Company during the fourth quarter of 2013. As of today, the combined carrying capacity of our current fleet, excluding the three vessels not yet delivered, is approximately 3.5 million dwt with a weighted average age of 6.1 years. A table describing the current Diana Shipping Inc. fleet can be found on the Company’s website, www.dianashippinginc.com. Information contained on the Company’s website does not constitute a part of this press release.

About the Company

Diana Shipping Inc. is a leading global provider of shipping transportation services through the ownership and operation of dry bulk vessels. The Company’s vessels are employed primarily on medium to long-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.

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