Diana Shipping Announces Bulker Sale and Leaseback

Dry bulk shipping company Diana Shipping Inc. announced that it has entered into a sale and leaseback agreement with an unaffiliated Japanese third party for the newbuild Capesize bulk carrier Florida.

Diana, which entered into an agreement to purchase the 181,500 dwt bulker in December 2021, said it expects to take delivery of the Japenese newbuild on March 29.

Upon completion, the company’s gross proceeds in connection with the sale and leaseback transaction will be $50.0 million, Diana said. As part of the agreement, the company will bareboat charter-in the vessel for a period of ten years and have purchase options beginning at the end of the third year of the agreement.