Diana Shipping Inc. (NYSE: DSX) is a global provider of shipping transportation services. We specialize in the ownership of dry bulk vessels. As of September 12, 2014 our fleet consists of 39 dry bulk vessels (2 Newcastlemax, 11 Capesize, 3 Post-Panamax, 3 Kamsarmax and 20 Panamax). The company also expects to take delivery of two new-building Newcastlemax dry bulk vessels and one new-building Kamsarmax dry bulk vessel during the second quarter of 2016. As of the same date, the combined carrying capacity of our fleet, excluding the three vessels not yet delivered, is approximately 4.4 million dwt with a weighted average age of 6.75 years.
Our fleet is managed by our wholly-owned subsidiary Diana Shipping Services S.A. Please visit our manager’s website at www.dianashippingservices.com.
Diana Shipping Inc. also owns approximately 26.3% of the issued and outstanding shares of Diana Containerships Inc. (NASDAQ: DCIX), a leading global provider of shipping transportation services through its ownership of containerships, that currently owns and operates nine container vessels (3 Post-Panamax and 6 Panamax) and expects to take delivery of one Post-Panamax container vessel by mid-October 2014.
Among the distinguishing strengths that we believe provide us with a competitive advantage in the dry bulk shipping industry are the following:
- We own a modern, high quality fleet of dry bulk carriers.
- Our fleet includes groups of sister ships, providing operational and scheduling flexibility, as well as cost efficiencies.
- We have an experienced management team.
- We benefit from the experience and reputation of Diana Shipping Services S.A., our fleet manager.
- We benefit from strong relationships with members of the shipping and financial industries.
- We have a strong balance sheet and a low level of indebtedness.
Our main objective is to manage and expand our fleet in a manner that will enable us to enhance shareholder value. To accomplish this objective, we intend to pursue highly focused business strategies, including: maintaining a high quality fleet; strategically expanding the size of our fleet; pursuing an appropriate balance of short-term and long-term time charters; maintaining a strong balance sheet; and maintaining low cost, highly efficient operations. In addition, we intend to capitalize on our reputation for high standards of performance, reliability and safety to establish and maintain relationships with major international charterers and financial institutions.
Simeon P. Palios
Chief Executive Officer
Anastasios C. Margaronis
Chief Financial Officer and Treasurer
Chief Operating Officer and Secretary
Chief Accounting Officer