DSX - Diana Shipping enters sales and leaseback of DSI Andromeda
- Diana Shipping ( NYSE: DSX ) has entered into a sale and leaseback agreement with an unaffiliated Japanese third party for the 2016-built Ultramax dry bulk vessel, m/v DSI Andromeda.
- The transaction is estimated to complete by the end of the fourth quarter of 2022. Upon completion, the company’s gross proceeds will be $29.85M.
- As part of the agreement, the company will bareboat charter-in the vessel for a period of ten years plus 30 days at the charterer's option, and will have purchase options beginning at the end of the third year of the bareboat charter period.
- Diana Shipping ( DSX ) has also signed a time charter contract with Reachy Shipping for its m/v DSI Pegasus Ultramax dry bulk vessel. The gross charter rate is $14K/day for a period until minimum July 15, 2024 up to maximum September 15, 2024. The charter is expected to commence later today.
- The employment of DSI Pegasus is estimated to generate ~$8.09M of gross revenue for the minimum scheduled period of the time charter.
For further details see:
Diana Shipping enters sales and leaseback of DSI Andromeda