Diana Shipping Inc. (NYSE: DSX), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, Friday (Dec 23) announced that, through a separate wholly-owned subsidiary, it has completed the previously announced sale and leaseback agreement with an unaffiliated Japanese third party for the 2016-built Ultramax dry bulk vessel, m/v DSI Andromeda

Diana Shipping Announces the Completion of Sale and Leaseback Transaction of mv DSI Andromeda

The Company’s gross proceeds are US$29.85 million. As part of the agreement, the Company will bareboat charter-in the vessel for a period of ten years plus 30 days at the charterer’s option at US$8,950 per day and have purchase options beginning at the end of the third year of the bareboat charter period. 

Diana Shipping Inc.’s fleet currently consists of 41 dry bulk vessels (4 Newcastlemax, 11 Capesize, 5 Post-Panamax, 6 Kamsarmax, 8 Panamax and 7 Ultramax). As of today, the combined carrying capacity of the Company’s fleet, excluding the 2 Ultramax dry bulk vessels not yet delivered, is approximately 4.8 million dwt with a weighted average age of 10.23 years.