Diana Shipping Inc., a global shipping company specializing in the ownership and operation of dry bulk vessels, yesterday announced that it has signed, through separate wholly-owned subsidiaries, two shipbuilding contracts with China Shipbuilding Trading Company, Limited and Jiangnan Shipyard (Group) Co., Ltd, for the construction of two Ice Class Panamax dry bulk carriers of approximately 76,000 dwt each for a contract price  of US$29 million per vessel. The Company expects to take delivery of the vessels during the fourth quarter of 2013.
Excluding the two vessels described above and the previously announced Newcastlemax new-building dry bulk carrier that is expected to be delivered during the second quarter of 2012, Diana Shipping Inc.'s fleet currently consists of 26 dry bulk carriers (16 Panamax, 1 Post-Panamax, 8 Capesize and 1 Newcastlemax) with a weighted average age of 6 years.
Diana Shipping Inc. is a leading global provider of shipping transportation services through the ownership and operation of dry bulk vessels. The Company's vessels are employed primarily on medium to long-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.