Diana Shipping Becomes Partner In Commissioning Service Operation Vessels Project; Signed Term Sheet Relating To Joint Venture; Ordered Two Commissioning Service Operation Vessels From VARD; Transaction Remains Subject To Negotiation
Portfolio Pulse from Benzinga Newsdesk
Diana Shipping Inc. (NYSE:DSX) has announced its participation in a joint venture to own and operate offshore wind vessels. The joint venture has ordered two Commissioning Service Operation Vessels (CSOVs) from VARD and holds the option to acquire two more. The company's partners in this venture include Blue Star Group GmbH & Cie. KG, SeaRenergy Offshore Holding GmbH and SeraVerse GmbH. The transaction is still subject to negotiation and customary closing conditions.
October 23, 2023 | 1:24 pm
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Diana Shipping's entry into a joint venture for offshore wind vessels could diversify its revenue streams and align the company with the growing renewable energy sector.
The joint venture allows Diana Shipping to diversify its operations and enter the growing renewable energy sector. This could potentially increase its revenue and profitability in the long term. However, the transaction is still subject to negotiation and customary closing conditions, which introduces some uncertainty.
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IMPORTANCE 80
RELEVANCE 100