Diana Shipping Inc. Announces the Order of Two 81,200 Dwt Methanol Dual Fuel New-Building Kamsarmax Dry Bulk Vessels
September 27 2023 - 9:25AM
Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping
company specializing in the ownership and bareboat charter-in of
dry bulk vessels, today announced that it has signed a letter of
intent to order through Marubeni Corporation or its guaranteed
nominee, an unaffiliated third party, two 81,200 dwt methanol dual
fuel new-building Kamsarmax dry bulk vessels, for a purchase price
of US$46 million each, built at Tsuneishi Group (Zhoushan)
Shipbuilding Inc., China. The vessels are expected to be delivered
to the Company by the second half of 2027 and the first half of
2028, respectively. The transaction remains subject to the
execution of definitive documentation and satisfaction of customary
closing conditions.
Mrs. Semiramis Paliou, Director and Chief
Executive Officer of the Company, stated: “Diana Shipping Inc.
takes pride in its role as an industry leader, continually striving
to enhance our fleet and operations for the benefit of our
stakeholders and the environment. This investment underscores our
dedication to sustainable shipping and positions us to meet the
evolving demands of our industry while reducing our carbon
footprint.”
Excluding the aforementioned vessels, Diana
Shipping Inc.’s fleet currently consists of 41 dry bulk vessels: 4
Newcastlemax, 10 Capesize, 5 Post-Panamax, 6 Kamsarmax, 7 Panamax
and 9 Ultramax. As of today, the combined carrying capacity of the
Company’s fleet, excluding the two vessels not yet delivered, is
approximately 4.7 million dwt with a weighted average age of 10.48
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 and bareboat
charter-in of dry bulk vessels. The Company’s vessels are employed
primarily on short to medium-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, Company management’s examination of historical
operating trends, data contained in the Company’s records and other
data available from third parties. Although the Company believes
that these assumptions were reasonable when made, because these
assumptions are inherently subject to significant uncertainties and
contingencies that are difficult or impossible to predict and are
beyond the Company’s control, the Company cannot assure you that it
will achieve or accomplish these expectations, beliefs or
projections.
In addition to these important factors, other
important factors that, in the Company’s view, could cause actual
results to differ materially from those discussed in the
forward-looking statements include the continuing impacts of the
COVID-19 pandemic; the strength of world economies and currencies,
general market conditions, including fluctuations in charter rates
and vessel values, changes in demand for dry bulk shipping
capacity, changes in the Company’s operating expenses, including
bunker prices, drydocking and insurance costs, the market for the
Company’s vessels, availability of financing and refinancing,
changes in governmental rules and regulations or actions taken by
regulatory authorities, potential liability from pending or future
litigation, general domestic and international political
conditions, including risks associated with the continuing conflict
between Russia and Ukraine and related sanctions, potential
disruption of shipping routes due to accidents or political events,
vessel breakdowns and instances of off-hires and other factors.
Please see the Company’s filings with the U.S. Securities and
Exchange Commission for a more complete discussion of these and
other risks and uncertainties. The Company undertakes no obligation
to revise or update any forward-looking statement, or to make any
other forward-looking statements, whether as a result of new
information, future events or otherwise.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/34829172-5983-436c-b232-0ecff910d6a9
Corporate Contact:
Ioannis Zafirakis
Director, Chief Financial Officer,
Chief Strategy Officer, Treasurer and Secretary
Telephone: + 30-210-9470-100
Email: izafirakis@dianashippinginc.com
Twitter: @Dianaship
For Immediate Release
Investor and Media Relations:
Edward Nebb
Comm-Counsellors, LLC
Telephone: + 1-203-972-8350
Email: enebb@optonline.net
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