Diana Shipping Inc. Announces Completion of Sale and Leaseback Transactions for m/v New Orleans and m/v Santa Barbara


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ATHENS, Greece, Sept. 12, 2022 (GLOBE NEWSWIRE) — Diana Shipping Inc. (NYSE:DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter of dry bulk carriers, has today announced that, through two separate wholly-owned subsidiaries, it has entered into the previously announced sale and leaseback agreements with two unaffiliated Japanese third parties for the 2015-built Capesize dry bulk carrier m/ v New Orleans, and the 2015 built Capesize dry bulk carrier, m/v Santa Barbara. The Company’s gross proceeds are US$66.4 million (US$33.2 million each). Under the agreements, the Company will charter the vessels bareboat for a period of eight years and will have options to purchase from the end of the third year of their bareboat charter period. Charters for m/v New Orleans and m/v Santa Barbara began on September 8, 2022 and September 12, 2022 respectively.

Following the previously announced sale of m/v Baltimore and the acquisition of the nine dry bulk carriers, Diana Shipping Inc.’s fleet will consist of 43 dry bulk carriers (4 Newcastlemax, 11 Capesize, 5 Post-Panamax, 6 Kamsarmax, 8 Panamax and 9 Ultramax). To date, the combined carrying capacity of the Company’s fleet, including the m/v Baltimore and excluding the nine bulk carriers not yet delivered, is approximately 4.5 million dwt with a weighted average age of 10.62 years. A chart outlining Diana Shipping Inc.’s current fleet can be found on the company’s website, www.dianshippinginc.com. Information contained on the Company’s website does not form part of this press release.

About the company

Diana Shipping Inc. is a global provider of shipping services through its ownership and bareboat charter of dry bulk carriers. The Company’s vessels are primarily employed for short to medium term charters and carry a range of dry bulk cargoes including commodities such as iron ore, coal, grain and other materials along global shipping routes.

Caution Regarding Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements to encourage companies to provide forward-looking information about their businesses. Forward-looking statements include statements regarding future plans, objectives, goals, strategies, events or performance, as well as underlying assumptions and other statements, that are other than statements of historical fact.

The Company wishes to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and includes this disclaimer as part of such safe harbor legislation. The words “believe”, “anticipate”, “intend”, “estimate”, “anticipate”, “project”, “plan”, “potential”, “may”, “should”, “expect to”, “pending” and similar expressions identify forward-looking statements.

The forward-looking statements contained in this press release are based on various assumptions, many of which are based, in turn, on other assumptions, including, without limitation, the company’s management’s review of trends historical operating records, data contained in company records and other available data. of third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and which are beyond the Company’s control, the Company does not cannot assure you that it will meet or achieve these expectations. , beliefs or projections.

In addition to these important factors, other important factors that the Company believes could cause actual results to differ materially from those discussed in the forward-looking statements include the severity, magnitude and duration of the COVID-19 pandemic, including the impacts of the pandemic and of business and government responses to the pandemic on our operations, our people and on demand for bulk shipping; the strength of global economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for dry bulk shipping capacity, changes in shipping costs, Company’s operations, including bunker prices, dry docking and insurance costs, the market for the Company’s vessels, the availability of financing and refinancing, changes in government rules and regulations or actions taken by regulatory authorities, potential liability arising from pending or future litigation, general domestic and international political conditions, including risks associated with the ongoing Russia-Ukraine conflict and sanctions, potential disruption shipping routes due to accidents or political events, ship breakdowns and non-lease cases and other factors. rs. Please see the Company’s filings with the United States Securities and Exchange Commission for a fuller discussion of these and other risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statement, whether as a result of new information, future events or otherwise.

Corporate Contact:
Ioannis Zafirakis
Director, Chief Financial Officer,
Chief Strategy Officer, Treasurer and Secretary
Telephone: + 30-210-9470-100
Email: [email protected]
Website: www.dianashippinginc.com
Twitter: @Dianaship

Investor and Media Relations:
Edward Nebb
Comm-Counsellors, LLC
Telephone: + 1-203-972-8350
Email: [email protected]

Source: Diana Shipping Inc. c/o Diana Shipping Services SA