Diana Shipping Inc. Announces Sale and Leaseback Deal

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Diana Shipping Inc. (NYSE: DSX), (the “Company”), through a separate wholly-owned subsidiary, has entered into a sale and leaseback agreement with an unaffiliated Japanese third party for the 2022 new-building Capesize dry bulk vessel, m/v Florida, says a press release published on their website.

Sale and leaseback

Upon completion, which is estimated to take place by March 29, 2022, the Company’s gross proceeds in connection with the sale and leaseback transaction will be US$50.0 million. As part of the agreement, the Company will bareboat charter-in the vessel for a period of ten years and have purchase options beginning at the end of the third year of the agreement.

About the vessel

As previously announced on December 3, 2021, the m/v Florida is a 2022 Japanese new-building Capesize dry bulk vessel of approximately 181,500 dwt that the Company entered into an agreement to purchase in December 2021. The vessel is now expected to be delivered to the Company by the sellers by March 29, 2022.

Diana’s fleet

Excluding the aforementioned vessel, Diana Shipping Inc.’s fleet currently consists of 34 dry bulk vessels:

  • 4 Newcastlemax,
  • 11 Capesize,
  • 5 Post-Panamax,
  • 6 Kamsarmax and
  • 8 Panamax.

As of today, the combined carrying capacity of the Company’s fleet, excluding the one vessel not yet delivered, is approximately 4.4 million dwt with a weighted average age of 10.57 years.

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Source: Diana Shipping

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