Diana Grows Fleet With Purchase of New Post-Panamax Bulker

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October 10, 2012

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.

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