We specialize in the ownership and bareboat charter-in of dry bulk vessels. As of August 11, 2022 our fleet consists of 34 dry bulk vessels (4 Newcastlemax, 11 Capesize, 5 Post-Panamax, 6 Kamsarmax and 8 Panamax), as well as one Capesize dry bulk vessel, the m/v “Baltimore” that has been sold and expected to be delivered to her new owners in the third quarter of 2022. The Company also expects to take delivery of nine Ultramax dry bulk vessels in the fourth quarter of 2022. As of the same date, the combined carrying capacity of our fleet, including the m/v Baltimore and excluding the nine Ultramax dry bulk vessels not yet delivered, is approximately 4.5 million dwt with a weighted average age of 10.53 years.
Our fleet is managed by our wholly-owned subsidiary Diana Shipping Services S.A. and our established 50/50 joint venture with Wilhelmsen Ship Management named Diana Wilhelmsen Management Limited.
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.
