Diana Shipping Inc. Announces Signing of Addenda to the Shipbuilding Contracts of Two Newbuildings
September 30 2016 - 9:25AM
Diana Shipping Inc. (NYSE:DSX), (the “Company”), a global shipping
company specializing in the ownership of dry bulk vessels, today
announced that, through two separate wholly-owned subsidiaries, it
signed two addenda with China Shipbuilding Trading Company, Limited
and Jiangnan Shipyard (Group) Co., Ltd., to extend the delivery
dates of the two Newcastlemax dry bulk carriers, Hull No. H2548 and
Hull No. H2549. The delivery date of the Hull No. H2548 has
been extended from September 29, 2016 to not earlier than December
26, 2016 and not later than December 30, 2016 while the delivery
date of the Hull No. H2549 has been extended from November 30, 2016
to not earlier than March 13, 2017 and not later than March 20,
2017. Both addenda are subject to the construction completion of
the vessels.
Excluding the aforementioned vessels, Diana
Shipping Inc.’s fleet currently consists of 46 dry bulk vessels (2
Newcastlemax, 14 Capesize, 3 Post-Panamax, 4 Kamsarmax and 23
Panamax). The Company also expects to take delivery of one
new-building Kamsarmax dry bulk vessel during the fourth quarter of
2016. As of today, the combined carrying capacity of the Company’s
fleet, excluding the three vessels not yet delivered, is
approximately 5.2 million dwt with a weighted average age of 7.9
years. A table describing the current Diana Shipping Inc. fleet can
be found on the Company’s website, www.dianashippinginc.com.
Information contained on the Company’s website does not constitute
a part of this press release.
About the Company
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,
including such commodities as iron ore, coal, grain and other
materials along worldwide shipping routes.
Cautionary Statement Regarding
Forward-Looking Statements
Matters discussed in this press release may
constitute forward-looking statements. 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.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements, which are other than
statements of historical facts.
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 words “believe,”
“anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,”
“potential,” “may,” “should,” “expect,” “pending” and similar
expressions identify forward-looking statements.
The forward-looking statements in this press
release are based upon various assumptions, many of which are
based, in turn, upon further assumptions, including without
limitation, our management’s examination of historical operating
trends, data contained in our records and other data available from
third parties. Although we believe that these assumptions were
reasonable when made, because these assumptions are inherently
subject to significant uncertainties and contingencies which are
difficult or impossible to predict and are beyond our control, we
cannot assure you that we will achieve or accomplish these
expectations, beliefs or projections.
Corporate Contact:
Ioannis Zafirakis
Director, Chief Operating Officer and Secretary
Telephone: + 30-210-9470-100
Email: izafirakis@dianashippinginc.com
Website: www.dianashippinginc.com
Investor and Media Relations:
Edward Nebb
Comm-Counsellors, LLC
Telephone: + 1-203-972-8350
Email: enebb@optonline.net
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