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Diana Shipping to buy new dry bulk vessels

Staff writer |
Diana Shipping, Inc. signed through a separate wholly-owned subsidiary, a Memorandum of Agreement (MoA) to acquire from an unaffiliated third party seller, a new-building Capesize dry bulk vessel of approximately 180,000 dwt.

Vessels are to be built by Qingdao Beihai Shipbuilding Heavy Industry Co., Ltd., Qingdao of China. The purchase price is $58 million. The vessel (Hull No. BC18.0-50) 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 Shipping Inc.'s fleet currently consists of 38 dry bulk vessels (2 Newcastlemax, 10 Capesize, 3 Post-Panamax, 3 Kamsarmax and 20 Panamax).

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

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