Diana Grows Fleet With Purchase of New Post-Panamax Bulker

The Polymnia is similar to Diana Shipping’s M/V Amphitrite, a 98,697 DWT vessel also built by Tsuneishi Group (Zhoushan) Shipbuilding Inc. Photo: Diana Shipping

Diana Shipping Inc. (NYSE: DSX), a global shipping company specializing in the ownership and operation of dry bulk vessels, announced Wednesday that it has signed a deal to acquire a newly-built Post-Panamax dry bulk carrier for US$24.6 million.

The 98,704 DWT vessel, to be named “Polymnia,” is under construction at Tsuneishi Group Shipbuilding Inc.’s yard in¬†Zhoushan, China¬†and is expected to be delivered in the end of November 2012.

The purchase grows Diana Shipping’s fleet to a total of 30 dry bulk carriers, including 17 Panamax, 3 Post-Panamax, 8 Capesize and 2 Newcastlemax. An additional two new-build Ice Class Panamax vessels are expected to be delivered to the company during the fourth quarter of 2013.