Diana Shipping Sells Two Panamax Dry Bulkers

Maritime Activity Reports, Inc.

February 17, 2019

(L-R) m/v Danae and m/v Dione. Pic: Diana Shipping Inc.

(L-R) m/v Danae and m/v Dione. Pic: Diana Shipping Inc.

Diana Shipping announced that it has signed, through two separate wholly-owned subsidiaries, two Memoranda of Agreement to sell to two affiliated parties, the m/v Danae and m/v Dione, each a 2001-built dry bulk vessel, for US$7.2 million each.

The global shipping company specializing in the ownership of dry bulk vessels said in a press release that the sale of the Vessels was approved by disinterested directors of the Company and were sold at a price equal to the higher of two independent broker valuations.

The Company expects the m/v Danae to be delivered to her buyers at the latest by June 28, 2019 and the m/v Dione to her buyers at the latest by April 15, 2019.

Upon completion of the aforementioned sales, Diana Shipping Inc.’s fleet will consist of 46 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 18 Panamax).

As of today, the combined carrying capacity of the Company’s fleet, including the m/v Danae and m/v Dione, is approximately 5.7 million dwt with a weighted average age of 9.26 years.

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