Diana Shipping Acquires Ultramax Dry Bulk Vessel For ~$28M

  • Diana Shipping Inc DSX disclosed on Tuesday that it had signed a Memorandum of Agreement to acquire from an unaffiliated third party the m/v Nord Potomac, a 2016 built Ultramax dry bulk vessel of 63,379 dwt. The transaction is valued at $27.9 million.
  • The company anticipates to take delivery of the vessel by the beginning of April 2023.
  • Excluding the newly acquired vessel, Diana Shipping Inc.'s fleet currently consists of 41 dry bulk vessels (4 Newcastlemax, 10 Capesize, 5 Post-Panamax, 6 Kamsarmax and 7 Panamax and 9 Ultramax).
  • The combined carrying capacity of the company's fleet, excluding the vessel not yet delivered, is approximately 4.7 million dwt with a weighted average age of 9.87 years.
  • DSX held $129.7 million in cash and equivalents as of Sept. 30, 2022.
  • Price Action: DSX shares closed higher by 0.24% at $4.11 on Tuesday.
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