Diana Invests in Newbuild Capesize Bulker

Diana Shipping Inc. has signed a Memorandum of Agreement to acquire a new-building Capesize dry bulk vessel from an unaffiliated third party seller.

The dry bulk carrier, with the capacity of approximately 180,000 dwt, will be built by Qingdao Beihai Shipbuilding Heavy Industry Co., Ltd., China.

The vessel, Hull No. BC18.0-50, bought for a purchase price of $58m, is expected to be delivered to the buyer by mid-August 2014.

Excluding the newly acquired vessel, as well as two new-building Newcastlemax dry bulk vessels and one new-building Kamsarmax dry bulk vessel expected to be delivered to the company during the second quarter of 2016, Diana’s fleet currently consists of 38 dry bulk vessels.

The combined carrying capacity of Diana’s fleet, excluding the four vessels not yet delivered, is approximately 4.21 million dwt, with a weighted average age of 6.83 years.

[mappress]
Press Release, June 30th, 2014