Diana buys capesize

Diana Shipping has snapped up a capesize resale from a joint venture between Oldendorff and Emirates Shipping Investment (EShips).
Simeon Palios, chief executive of Diana Shipping.

Simeon Palios, chief executive of Diana Shipping.

New York-listed Diana has paid $58m for the 180,000-dwt vessel that will be delivered from Qingdao Beihai Shipbuilding Heavy Industry in August this year.

The ship looks to have been a profitable asset play for the sellers, who are understood to have paid around $47.5m for the newbuilding.

However, sources indicate the ship has a number of high specification extras that added around $3m to $4m to the resale price.

Diana has been consistently buying ships for the past few years at a steady pace and so, unlike many others in the sector, is undeterred by short-term price fluctuations.

It operates 38 bulkers on period contracts, including 10 capes, and has three additional newbuildings on order.

Beihai is one of the world’s largest capesize shipbuilders and has vessels under construction for owners including Rizhao Steel and Chinese Maritime Transport.

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