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Diana Shipping Inks Two Sale & Leaseback Agreements

Diana Shipping Inc. (NYSE:DSX) has entered into two sale and leaseback agreements with two unaffiliated Japanese third parties for the 2015-built…
byAkanksha Bakshi
August 17, 2022
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  • Diana Shipping Inc. (NYSE:DSX) has entered into two sale and leaseback agreements with two unaffiliated Japanese third parties for the 2015-built Capesize dry bulk vessel m/v New Orleans and the 2015-built Capesize dry bulk vessel, m/v Santa Barbara.
  • The transactions are expected to complete by the end of 3Q22. The company will receive gross proceeds of $66.4 million ($33.2 million each).
  • As per agreements, DSX will bareboat charter-in the vessels for eight years and have purchase options beginning at the end of the third year of their bareboat charter period.
  • The combined carrying capacity of DSX’s fleet, including the m/v Baltimore and excluding the nine dry bulk vessels not yet delivered, is approximately 4.5 million dwt with a weighted average age of 10.55 years.
  • Price Action: DSX shares are trading lower by 0.02% at $5.36 on the last check Wednesday.
 
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