New York-listed Diana has signed an MOU for the sale of one of its capesize bulk carriers, the Pantelis SP, for US$81m. The vessel is expected to be delivered to its new owners in early July 2007. The Pantelis SP is a 169,883 dwt Capesize bulk carrier built in 1999 that the Company purchased in February 2005 for a contract price of $63.5 million. The company has also announced that it has entered into a time charter contract with Cargill International for one of its panamax vessels, the 2005-built Clio, for a period of minimum 23 to maximum 25 months at a gross daily charter of US$27,000. 2005.
Diana Shipping chairman and chief executive officer, Simeon Palios, said: “It is the intention of the company to apply the proceeds from the sale of its oldest vessel towards the purchase of the new capesize vessel, the Semirio, whose purchase price is only US$17 million more than the sale price of Pantelis SP. Our shareholders should also note that the delivery of Pantelis SP to its new owners is expected to occur in early July, and until that time the company will continue to receive revenues from the vessel. As far as the new charter of Clio is concerned, this indicates once again that we are committed to increasing the visibility of our earnings by taking advantage of favourable market conditions and locking in healthy rates.”
Once the Pantelis SP has been sold the company’s fleet, including newbuildings under construction, will consist of 13 panamax and four capesize dry bulk carriers.
Diana Shipping chairman and chief executive officer, Simeon Palios, said: “It is the intention of the company to apply the proceeds from the sale of its oldest vessel towards the purchase of the new capesize vessel, the Semirio, whose purchase price is only US$17 million more than the sale price of Pantelis SP. Our shareholders should also note that the delivery of Pantelis SP to its new owners is expected to occur in early July, and until that time the company will continue to receive revenues from the vessel. As far as the new charter of Clio is concerned, this indicates once again that we are committed to increasing the visibility of our earnings by taking advantage of favourable market conditions and locking in healthy rates.”
Once the Pantelis SP has been sold the company’s fleet, including newbuildings under construction, will consist of 13 panamax and four capesize dry bulk carriers.