Diana Shipping Contract for Dry Bulk Carriers
Diana Shipping Inc. (NYSE:DSX), a global shipping transportation company specializing in dry bulk cargoes, announced that it has signed, through its 100% owned subsidiaries, two shipbuilding contracts with China Shipbuilding Trading Company, Limited and Shanghai Jiangnan-Changxing Shipbuilding Co., Ltd for the construction of two Newcastlemax dry bulk carriers of approximately 206,000 dwt each for a contract price of $59m per vessel. The company expects to take delivery of the vessels during the second and third quarters of 2012, respectively. The company is considering obtaining pre- and/or post-delivery financing for the specific acquisitions.
Safe Bulkers Sells Panamax Class Vessel
Safe Bulkers, Inc. (NYSE: SB), an international provider of marine drybulk transportation services, announced the sale of a Panamax Class Vessel. Safe Bulkers has entered an agreement to sell a 76,000 dwt Panamax class vessel built in 2003 for $33m, excluding commissions to brokers. The vessel will be delivered to its new owners in December 2009. The extended delivery period, which exceeds the market standard of three months, will permit the company to employ the vessel in the spot market through December 2009. Proceeds from the sale of the vessel will strengthen the company's balance sheet. The company also provided additional details regarding its entry into a resale agreement to acquire a Capesize class newbuild vessel to be delivered in April 2010…
