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Diana Shipping delays taking over newbuild bulker pair at CSSC yards

Diana Shipping delays taking over newbuild bulker pair at CSSC yards
Greece’s Diana Shipping Inc. has come to an agreement with China Shipbuilding Trading Company and Jiangnan Shipyard, subsidiaries of China State Shipbuilding Corp (CSSC), to extend the delivery dates of two newbuild dry bulk carriers.

The delivery period of one newcastlemax bulker has been delayed from 29 September this year to between 26-30 December 2016, while the second sister unit has been pushed back from 30 November this year to between 13-20 March 2017.

The global dry bulk shipping market is awashed with capacity and freight rates have stayed under pressure, leading to many owners seeking to push back deliveries of new bulkers.

At present, Diana Shipping’s fleet consists of 46 dry bulk vessels. The company expects to take delivery of one newbuilding kamsarmax bulker during the fourth quarter of 2016.