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Diana Shipping Inc. announces sale and leaseback of major vessels

Published by , Editorial Assistant
Dry Bulk,

Diana Shipping Inc., a global shipping company specialising in the ownership and bareboat charter-in of dry bulk vessels, has announced that, through two separate wholly-owned subsidiaries, it has completed the previously announced 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.

The Company’s gross proceeds are 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. The charters of m/v New Orleans and m/v Santa Barbara commenced on 8 September 2022 and 12 September 2022, respectively.

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). 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 10.62 years.

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Panamax news Capesize news European dry bulk news US dry bulk news