Diana Shipping Sells Dry Bulker Erato

Diana Shipping announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party, the 2004-built vessel “Erato”.

The global shipping company specializing in the ownership of dry bulk vessels said that the delivery to the buyer is expected latest by June 10, 2019. The sale price is US$7.0 million before commissions.

Upon completion of the aforementioned sale and the previously announced sale of a Panamax dry bulk vessel, the m/v Dione, Diana Shipping Inc.’s fleet will consist of 45 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 17 Panamax).

As of today, the combined carrying capacity of the Company’s fleet, including the m/v Erato and m/v Dione, is approximately 5.6 million dwt with a weighted average age of 9.30 years.