Diamond S Shipping Inc. (NYSE:DSSI) announced that the merger of the business and operations of DSS Holdings L.P. and the crude and product tanker business of Capital Product Partners L.P. (NASDAQ: CPLP) has been completed.

Diamond S Shipping Completes Merger

Diamond S is now one of the largest publicly listed owners and operators of crude and product tankers in the world. Diamond S common stock is expected to begin regular-way trading on the New York Stock Exchange today.

“The CPLP merger provides us the scale necessary to compete at the top end of the global energy shipping business,” said Craig H. Stevenson, Jr., CEO of Diamond S. “In addition, we are listing in the public market at what we see as a cyclically opportune time that makes us well-positioned for future industry consolidation, with one of the world’s largest tanker fleets, a cost-efficient management platform and a sound balance sheet,” Stevenson added.

About Diamond S Shipping Inc.

Diamond S Shipping Inc. (NYSE Ticker: DSSI) owns and operates 68 vessels on the water, including 15 Suezmax vessels, one Aframax and 52 medium-range (MR) product tankers. Diamond S is one of the largest energy shipping companies providing seaborne transportation of crude oil, refined petroleum and other production in the international shipping markets.

Source: Diamond Shipping