Diana Shipping buys vessel for $98M |
|
|
|
Published
:
Tue, 06 Feb 2007 18:11
|
NEW YORK (AFX) - Greek shipping company Diana Shipping Inc., which specializes in dry bulk cargo, said Tuesday it plans to buy a Capesize vessel currently under construction for $98 million, and has already placed it on charter.Shortly after delivery around June 15, the Semirio will go under charter by Diana Shipping Marketing AG for four years, with an option for an additional year.BHP Billiton will charter the vessel at a daily rate of $51,000 during the first two years and at $31,000 during the third and fourth years. The charterer has the option to employ the vessel for another 11 months to 13 months at a daily rate of $48,500.Diana Shipping said it expects gross earnings of about $57.4 million over the four-year charter. If BHP Billiton takes Semirio for a fifth year, the charter is expected to generate a total of $74 million in gross earnings.With the delivery of Semirio, the age of Diana Shipping's fleet will fall to 3.7 years. Its overall size will increase to 13 Panamax and five Capesize dry bulk carriers.Shares of Diana Shipping rose 14 cents to $16.98 in morning trading on the New York Stock Exchange. Earlier, shares set a fresh 52-week high of $17.13, topping a previous peak of $17.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
|
|
|
|
Print this Story
Diana Shipping buys vessel for $93M 