Diana Shipping Announces Sale of Capesize Vessel

Friday, February 16, 2007
Diana Shipping Inc., a global shipping transportation company specializing in dry bulk cargoes, today announced that it has signed a Memorandum of Agreement with an unaffiliated third party for the sale of one of its Capesize dry bulk carriers, the Pantelis SP, for the price before commissions of $81 million. The vessel, is expected to be delivered to its new owners in early July 2007. The Pantelis SP is a 169,883 dwt Capesize bulk carrier built in 1999 that the Company purchased in February 2005 for a contract price of $63.5 million.

The Company also announced that it has entered into a time charter contract with Cargill International S.A. for one of its Panamax vessels, the Clio, for a period of minimum 23 to maximum 25 months at a gross daily charter of $27,000. The time charter contract is expected to commence on or about February 25, 2007. The Clio is a 73,691 dwt Panamax dry bulk carrier built in 2005.

Upon completion of sale of Pantelis SP and including other vessels under construction, the Company's fleet will consist of thirteen Panamax and four Capesize dry bulk carriers. The weighted average age without taking into account the vessels under construction will be 3.2 years.

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Ship as Lifeboat Concept Disputed by ICV

A recent meeting at the National Transportation Safety Board in Washington, D.C. (attended by International Cruise Victims (ICV) Board representatives) discussed

BP Gulf Spill Trial Set For January

The high-stakes penalty phase of BP's trial over its role in the 2010 U.S. Gulf of Mexico oil spill will start next January, court officials said on Tuesday,

China's Seizure of Japanese Ship has Pre-WWII Roots

It all began with a pre-World War II contract between China's then "ship king" and a Japanese company to lease two Chinese freighters. When the one-year lease was up in 1937,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Pipelines Port Authority Salvage Ship Electronics Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0892 sec (11 req/sec)