Diana Shipping Inc. Announces The Sale Of A Panamax Dry Bulk Vessel, The m/v Artemis With Delivery To The Buyer Latest By March 8, 2024, For A Sale Price Of $12.99M Before Commissions
Portfolio Pulse from Benzinga Newsdesk
Diana Shipping Inc. (NYSE:DSX) has agreed to sell its 2006-built Panamax dry bulk vessel, the m/v Artemis, for $12.99 million before commissions. The sale is to an unaffiliated third party and is expected to be completed by March 8, 2024. Following the sale, Diana Shipping's fleet will consist of 39 dry bulk vessels with a combined carrying capacity of approximately 4.5 million dwt and a weighted average age of 10.59 years.
January 23, 2024 | 2:17 pm
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Diana Shipping Inc. is selling the m/v Artemis, which will reduce its fleet size but may improve its financial position by adding $12.99 million in cash before commissions.
The sale of the m/v Artemis is a strategic move that could be seen as positive by investors, as it may improve Diana Shipping's cash position. The sale price of $12.99 million before commissions adds to the company's liquidity, which could be used for debt reduction, reinvestment, or returning value to shareholders. However, the impact on the stock price will also depend on the market's perception of the sale price and the company's future fleet utilization and revenue generation.
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