Diana Shipping Sells Second Vessel in Strategic Move

Greek bulker owner continues fleet optimization amidst shifting maritime market dynamics

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Diana Shipping, a Greek bulker owner listed on the New York Stock Exchange, continues its strategic divestment initiatives within the maritime sector, announcing the sale of its second vessel this year. The company, under the leadership of Semiramis Paliou, has finalized an agreement with an undisclosed buyer for one of its nine capesize vessels.

The vessel in question, the 2009-built Houston, boasting a deadweight tonnage of 177,729, is set to be transferred for a consideration of $23.3 million. Currently under charter with EGPN Bulk Carrier until July 1 and August 31, commanding a daily rate of $13,000, the vessel is expected to depart from Diana Shipping’s fleet by September.

This transaction follows closely on the heels of Diana’s earlier sale of the 2006-built panamax Artemis for $13 million, with an exit scheduled for March of this year. Additionally, the company has recently solidified its contractual commitments by securing arrangements for the acquisition of two methanol dual-fuel kamsarmax newbuilds, slated for delivery in 2027 and 2028.

Despite the prevailing trend of escalating prices in the secondhand capesize market, industry brokers have observed a notable surge in vessel transactions. Between October 2023 and February 2024, more than 50 vessels have changed ownership, with over 20 sales recorded within the current calendar year alone.

Diana Shipping’s proactive approach to optimizing its fleet composition and capitalizing on market opportunities underscores its commitment to strategic growth and value creation within the maritime domain.

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