- Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, announced a MoU to sell the 2001-built vessel “Nirefs”.
- The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation.
- The Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
An article published in Yahoo News reports that Diana Shipping Inc. (DSX) has signed a Memorandum of Agreement to sell to an unaffiliated third party, the 2001-built vessel “Nirefs”.
Panamax bulk carrier
The vessel will be delivered to the buyer latest by October 30, 2019, for a sale price of US$6.71 million before commissions.
Upon completion of the aforementioned sale, Diana Shipping Inc.’s fleet will consist of 43 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 15 Panamax).
As of today, the combined carrying capacity of the Company’s fleet, including the m/v Nirefs, is approximately 5.4 million dwt with a weighted average age of 9.31 years.
Diana Shipping Inc.
Diana Shipping Inc. is a 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.
The cargoes include commodities such as iron ore, coal, grain and other materials along worldwide shipping routes.
Exploiting safe harbor provisions
The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business.
The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation.
Factors causing material difference
In the Company’s view, a number of factors could cause actual results to differ materially from those discussed in the forward-looking statements. These include:
- The strength of world economies and currencies,
- General market conditions, including fluctuations in charter rates and vessel values, changes in demand for dry bulk shipping capacity,
- Changes in the Company’s operating expenses, including bunker prices, drydocking and insurance costs,
- The market for the Company’s vessels,
- Availability of financing and refinancing,
- Changes in governmental rules and regulations or actions taken by regulatory authorities,
- Potential liability from pending or future litigation,
- General domestic and international political conditions,
- Potential disruption of shipping routes due to accidents or political events, v
- Vessel breakdowns and instances of off-hires and other factors.
The Company’s filings with the U.S. Securities and Exchange Commission can be referred for a more complete discussion of these and other risks and uncertainties.
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Source: Yahoo
