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

Diana Shipping Inc., a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, announced that, through two separate wholly-owned subsidiaries, it has completed the previously announced sale and leaseback agreements with two unaffiliated Japanese third parties for the 2015-built Capesize dry bulk vessel, m/v New Orleans, and the 2015-built Capesize dry bulk vessel, m/v Santa Barbara. The Company’s gross proceeds are US$66.4 million (US$33.2 million each). As part of the agreements, the Company will bareboat charter-in the vessels for a period of eight years and have purchase options beginning at the end of the third year of their bareboat charter period. The charters of m/v New Orleans and m/v Santa Barbara commenced on September 8, 2022 and September 12, 2022, respectively.

Upon completion of the previously announced sale of the m/v Baltimore and the acquisition of the nine dry bulk vessels, Diana Shipping Inc.’s fleet will consist of 43 dry bulk vessels (4 Newcastlemax, 11 Capesize, 5 Post-Panamax, 6 Kamsarmax, 8 Panamax and 9 Ultramax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Baltimore and excluding the nine dry bulk vessels not yet delivered, is approximately 4.5 million dwt with a weighted average age of 10.62 years.
Source: Diana Shipping Inc.