Diana Shipping Announces Sale And Leaseback Of Two Vessels

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Diana Shipping Inc. (NYSE: DSX), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that, through two separate wholly-owned subsidiaries, says a press release published on their site.

Agreement

It has entered into two sale and leaseback agreements with two unaffiliated Japanese third parties for the 2015-built Capesize dry bulk vessel, m/v New Orleans, and the 2015-built Capesize dry bulk vessel, m/v Santa Barbara. Upon completion of the transactions, which are estimated to take place by the end of the third quarter of 2022, the Company’s gross proceeds will be US$66.4 million (US$33.2 million each).

As part of the agreements, the Company will bareboat charter-in the vessels for a period of eight years and have purchase options beginning at the end of the third year of their bareboat charter period.

Company’s fleet

Upon completion of the previously announced sale of the m/v Baltimore and the acquisition of the nine dry bulk vessels, Diana Shipping Inc.’s fleet will consist of 43 dry bulk vessels (4 Newcastlemax, 11 Capesize, 5 Post-Panamax, 6 Kamsarmax, 8 Panamax and 9 Ultramax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Baltimore and excluding the nine dry bulk vessels not yet delivered, is approximately 4.5 million dwt with a weighted average age of 10.55 years. 

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Source: Diana Shipping Inc.

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