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Benzinga
Benzinga
Business
Akanksha Bakshi

Diana Shipping Sells m/v Baltimore Capesize Dry Bulk Vessel

Diana Shipping DSX Diana Shipping Inc NYSE
  • Diana Shipping Inc (NYSE:DSX) has agreed to sell one of its dry bulk vessels, the m/v Baltimore, to OceanPal Inc., for $22 million.
  • The company noted that 20% of the purchase price was paid upon signing the Memorandum of Agreement. The remaining 80% will be paid upon delivery of the vessel in the form of newly issued preferred shares of OceanPal.
  • The m/v Baltimore is a 2005-built Capesize dry bulk vessel having a carrying capacity of 177,243 dwt.
  • Delivery to the buyer is expected to occur in the third quarter of 2022.
  • Upon completion of the sale, Diana Shipping's fleet will consist of 34 dry bulk vessels.
  • Price Action: DSX shares are trading higher by 3.24% at $5.42 on the last check Wednesday.
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