Diana Shipping Sells m/v Baltimore Capesize Dry Bulk Vessel

June 15, 2022 11:23 AM | 1 min read | Make a Comment

Diana Shipping Inc DSX has agreed to sell one of its dry bulk vessels, the m/v Baltimore, to OceanPal Inc., for $22 million.
The company noted that 20% of the purchase price was paid upon signing the Memorandum of Agreement. The remaining 80% will be paid upon delivery of the vessel in the form of newly issued preferred shares of OceanPal.
The m/v Baltimore is a 2005-built Capesize dry bulk vessel having a carrying capacity of 177,243 dwt.
Delivery to the buyer is expected to occur in the third quarter of 2022.
Upon completion of the sale, Diana Shipping's fleet will consist of 34 dry bulk vessels.
Price Action: DSX shares are trading higher by 3.24% at $5.42 on the last check Wednesday.

Posted In: M&A News Small Cap Briefs

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