Diana Shipping Inc.
reported that it has completed today the previously announced
sale of one of its Capesize dry bulk carriers, the Pantelis SP, with the
delivery of the vessel to her new owners. On February 16, 2007 Diana
Shipping announced a Memorandum of Agreement with an unaffiliated third
party for the sale of the vessel, at a price before commissions of $81
million. The proceeds from the sale will immediately be used to repay debt
drawn under the Company's revolving credit facility with the Royal Bank of
The Pantelis SP is a 169,883 dwt Capesize bulk carrier built in 1999.
Taking this sale into account, the Diana Shipping fleet currently consists
of 16 vessels (13 Panamax and 3 Capesize). The Company has also announced
one additional Capesize vessel newbuilding
, which is expected to be
delivered in November 2007, and two others to be delivered in the second
quarter of 2010. An up-to-date table describing the Diana Shipping fleet