Diana Shipping Inks Two Sale & Leaseback Agreements

Diana Shipping Inc. DSX has entered into two 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 transactions are expected to complete by the end of 3Q22. The company will receive gross proceeds of $66.4 million ($33.2 million each).
As per agreements, DSX will bareboat charter-in the vessels for eight years and have purchase options beginning at the end of the third year of their bareboat charter period.
The combined carrying capacity of DSX’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 10.55 years.
Price Action: DSX shares are trading lower by 0.02% at $5.36 on the last check Wednesday.

Momentum12.17

Growth22.57

Quality-

Value92.48

Short

Medium

Long