Diana Shipping Inc. Announces the Acquisition of a Kamsarmax Dry Bulk Vessel

Diana Shipping Inc., a global shipping company specializing in the ownership and operation of dry bulk vessels, yesterday announced that, through a separate wholly-owned subsidiary, the Company was the successful bidder at an auction that took place in Italy, on September 3, 2013, for the m/v "Stefania Lembo," a 2010 built Kamsarmax dry bulk vessel of 82,117 dwt, built by Tsuneishi Shipbuilding Co. Ltd., Japan, for a purchase price of US$22.7 million. On September 19, 2013, the judge authorized the liquidators to arrange the issuance of the Bill of Sale in favor of the Buyer. The vessel, to be renamed "Myrsini," is expected to be delivered to the Buyer at the beginning of October 2013.

Including the newly acquired vessel, Diana Shipping Inc.'s fleet currently consists of 35 dry bulk vessels (2 Newcastlemax, 9 Capesize, 3 Post-Panamax, 3 Kamsarmax and 18 Panamax). The Company also expects to take delivery of 2 new-building Ice Class Panamax dry bulk vessels between the fourth quarter of 2013 and the first quarter of 2014, and 2 new-building Newcastlemax dry bulk vessels during the second quarter of 2016. As of today, the combined carrying capacity of our fleet, excluding the five vessels not yet delivered, is approximately 3.8 million dwt with a weighted average age of 6.6 years.
Source: Diana Shipping Inc.