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Monday, June 18, 2018

Simeon Palios News

Diana Shipping to Acquire Three Panamax Ships

Diana Shipping Inc. has signed, through three separate wholly-owned subsidiaries, three Memoranda of Agreement to acquire from a related party three Panamax vessels for an aggregate purchase price of $39.8 million. These vessels are the m/v Sunshine, a 2010 built Panamax dry bulk vessel of 75,700 dwt, the m/v Manzoni, a 2013 built Panamax dry bulk vessel of 75,403 dwt and the m/v Infinity 9, a 2013 built Panamax dry bulk vessel of 77,901 dwt, all built by Jiangnan Shipyard (Group) Co., Ltd. The delivery of the vessels to the buyers is expected by the end of March 2016. The company has agreed to acquire the vessels from entities affiliated with Semiramis Paliou and Aliki Paliou, each of whom is a family member of the company’s Chairman and Chief Executive Officer.

Diana Prices USD 70 mln Public Offering

Photo: Diana Shipping Inc

Diana Shipping, a global shipping company specializing in the ownership of dry bulk vessels,  announced that it has priced its previously announced underwritten public offering of 17,500,000 common shares, par value US$0.01 per share, at a price of US$4.00 per share. The Company has granted the underwriters an over-allotment option for a period of 30 days from the closing of this offering to purchase up to an additional 2,625,000 shares of common stock at the public offering price, less underwriting discounts.

Diana Shipping Invests in Diana Containerships

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, has announced that it has entered into an agreement to purchase shares of the common stock of Diana Containerships Inc. for an aggregate purchase price of $40 million. Concurrently with the company's investment, two institutional investors not affiliated with the company or Diana Containerships together purchased $40 million of common shares, and Simeon Palios, Chairman and Chief Executive Officer of the company and Diana Containerships…

Diana, Wilhelmsen form DWM

Courtesy Diana Shipping

Diana Shipping Inc. a global shipping company specializing in the ownership of dry bulk vessels, and Wilhelmsen Ship Management (“WSM”) today announced that they have established a new 50/50 joint venture named Diana Wilhelmsen Management Limited (“DWM”). Diana Wilhelmsen Management Limited will initially provide management services to a limited number of vessels of Diana Shipping’s fleet when the joint venture commences operations later in the second quarter of this year and may in the future provide management services to unaffiliated third party vessel operators.

Diana JV with WSM

Aliki Vessel. Photo by Diana Shipping Inc

Dry bulk shipping company Diana Shipping and Wilhelmsen Ship Management (WSM) have joined forces in a new 50/50 joint venture named Diana Wilhelmsen Management Limited (DWM). DWM, to be based in Limassol, Cyprus, and will commence operations by the end of June. It will begin operations by providing management services to "a limited number of vessels of Diana Shipping's fleet" and ultimately plans to provide management services to unaffiliated third-party vessel operators. “With our joint venture we see the best from two well established organisations.

Diana Shipping Amends Loan Agreement to Diana Containerships

Photo: Diana Shipping Inc

Diana Shipping Inc. has amended its existing loan agreement to a wholly-owned subsidiary of Diana Containerships to defer some payments under a new schedule. Diana Containerships Inc. is a former wholly-owned subsidiary of the Company, of which the Company currently owns approximately 25.7% of the issued and outstanding common shares. The amendment to the Loan was unanimously approved by the independent directors of the Company. Pursuant to the terms of the amendment, the repayment…

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