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Diana Shipping to Sell Dry Bulk Vessel for $26.9 Million
ByAinvest
Thursday, Sep 18, 2025 10:29 am ET1min read
Diana Shipping Inc. is a Greek shipping company that owns and operates 40 dry bulk vessels. The company is selling one of its dry bulk vessels for $26.9 million. Diana Shipping's fleet has a combined carrying capacity of approximately 4.7 million deadweight tonnage (dwt) and a weighted average age of 10.16 years. The company's fleet is managed by its subsidiary Diana Shipping Services S.A. and its joint venture with Wilhelmsen Ship Management.
September 12, 2025 - Diana Shipping Inc., a Greece-based global provider of shipping transportation services, has announced the sale of an Ultramax dry bulk vessel, the M/V DSI Drammen, for $26.9 million. The vessel, part of the company's fleet of 40 dry bulk carriers, is one of the company's newer additions, built in 2016, and is expected to be delivered in the coming months.The M/V DSI Drammen, with a deadweight tonnage (dwt) of 45,000, is a significant addition to Diana Shipping's fleet, which currently has a combined carrying capacity of approximately 4.7 million dwt. The sale of this vessel is part of the company's strategic fleet renewal program, aimed at modernizing its fleet to meet increasing regulatory demands for energy efficiency and reduced emissions [1].
Following the sale, Diana Shipping's fleet will consist of 39 dry bulk vessels, maintaining a weighted average age of 10.16 years. The company's fleet is managed by its wholly-owned subsidiary, Diana Shipping Services S.A., and its established 50/50 joint venture with Wilhelmsen Ship Management named Diana Wilhelmsen Management Limited [1].
The sale of the M/V DSI Drammen for $26.9 million indicates a strategic divestment of one of the company's newer assets. This sale aligns with industry-wide trends of fleet renewal focused on more fuel-efficient vessels with lower emissions profiles. The dry bulk shipping sector faces increasing regulatory pressure regarding emissions, with the IMO's EEXI (Energy Efficiency Existing Ship Index) and CII (Carbon Intensity Indicator) regulations driving owners toward newer, cleaner vessels [2].
The transaction will generate a gain for Diana Shipping, reflecting the vessel's book value and depreciation over its lifespan. The sale proceeds will bolster the company's liquidity position, providing more flexibility to pursue the renewal of its fleet with more modern, fuel-efficient, and environmentally friendly vessels.
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