Diana Shipping Inc. (DSX) – New Company, New Investment

Diana Shipping Inc., a dry bulk carrier, has sought out a new company in which to invest $50 million as a minimum balance in order to take part in the new company’s 12 to 18 months of investing and operating containerships. With this 50 million investment by Diana Shipping Inc., Diana’s management would enter into administrative and vessel management agreements with this new company; as well as some of Diana’s executive staff working under the new company’s executive staff. Diana Shipping Inc. asserted that it would not invest in any other containership companies, likewise the new company would not invest in any other dry bulk ship companies.