Diana Shipping to Buy Kamsarmax Dry Bulk Vessel

Dry bulk shipping firm Diana Shipping has signed a deal to acquire a 2011-built Kamsarmax dry bulk vessel of 82,165 dwt, for $22.0 million.

The company said Friday it anticipated to take delivery of the vessel - named m/v Magnolia - by the end of February 2022.  

The company did not say who the seller was. According to specifications disclosed, the vessel corresponds to the Magnolia bulker (ex- Zennoh Grain Magnolia), owned by Kawana Kaiun.

Excluding the newly acquired vessel and upon completion of the previously announced sale of one Panamax dry bulk vessel, the m/v Naias, Diana Shipping Inc.’s fleet will consist of 36 dry bulk vessels (4 Newcastlemax, 12 Capesize, 5 Post-Panamax, 5 Kamsarmax and 10 Panamax).

The combined carrying capacity of the company’s fleet, excluding the vessel not yet delivered and including the m/v Naias,  is approximately 4.7 million dwt with a weighted average age of 10.41 years.