Diana Shipping: Completion of Sale & Leaseback Transactions

Diana Shipping_San Francisco

Diana Shipping, 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.

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