Diana Shipping Continues Buying Spree

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March 30, 2012

Hot on the heels of yesterdays announcement from NYSE-listed dry bulk shipowner Diana Shipping (NYSE: DSX) calling for the constructing of two ice class Panamax dry bulk carriers, the company has today announced another addition to its fleet with the purchase of a 76,225 dwt bulk carrier from an unaffiliated third party.

In a statement, Diana Shipping said it will be purchasing the M/V Mining Star, a 2005 built Panamax dry bulk carrier of 76,225 dwt, for a price of US$20.65 million bringing the company’s two-day spending total to more than $78 million from so far undisclosed funds.  Upon delivery in mid-April, Diana Shipping will rename the vessel to “Melia”.

Excluding the “Melia”, Diana Shipping’s fleet currently consists of 26 dry bulk carriers consisting  of 16 Panamax vessels, 8 Capesize vessels, 1 Post-Panamax vessel and 1 Newcastlemax vessel, as well as 1 new building Newcastlemax vessel expected to be delivered during the second quarter of 2012 and 2 new building Ice Class Panamax vessels expected to be delivered during the fourth quarter of 2013.

According to the ship photo website, Shipspotting.com, the M/V Mining Star is owned and operated by     Statu Chartering & Shipping of Istanbul, Turkey.

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