Dayang Shipbuilding Wins Kamsarmax BC

Diana Shipping Inc. has signed, through a separate wholly owned subsidiary, a 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 $28.8 million.

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’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 its fleet, excluding the five vessels not yet delivered, is approximately 4.1 million dwt with a weighted average age of 6.61 years.

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Press Release, January 9, 2014