Diana Shipping Inc., Kamsarmax new building bargain deal

Dry Bulkcarriers, News, Ocean Shipping, Shipbuilding and Shipyards — By on January 8, 2014 at 2:47 PM

sideris GS FUNNELDiana Shipping Inc, signs shipbuilding contract for the purchase of a Kamsarmax dry bulk carrier

ATHENS, GREECE, January 8, 2014 – Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, today announced that it has signed, through a separate wholly owned subsidiary, a shipbuilding contract with Yangzhou Dayang Shipbuilding Co., Ltd. and Shanghai Sinopacific International Trade Co., Ltd., for the construction of a Kamsarmax dry bulk vessel of approximately 82,000 dwt for a contract price of US$28,824,900. The Company expects to take delivery of the vessel during the second quarter of 2016.

Excluding the aforementioned vessel, as well as 2 new-building Ice Class Panamax dry bulk vessels expected to be delivered to the Company during the first quarter of 2014 and 2 new-building Newcastlemax dry bulk vessels expected to be delivered to the Company during the second quarter of 2016, Diana Shipping Inc.’s fleet currently consists of 36 dry bulk vessels (2 Newcastlemax, 10 Capesize, 3 Post-Panamax, 3 Kamsarmax and 18 Panamax). As of today, the combined carrying capacity of our fleet, excluding the five vessels not yet delivered, is approximately 4.1 million dwt with a weighted average age of 6.61 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 its ownership 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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