Shanghai: Dry bulk shipping company Diana Shipping has confirmed a $110m newbuild contract with Shanghai Waigaoqiao Shipbuilding. The capesize vessel is currently under construction at the yard and is expected to be delivered in early November.
Diana Shipping has yet to charter out the vessel, although it is believed to be seeking long-term employment for the tanker. Upon delivery, the cargo carrying capacity for Diana Shippings' fleet will increase to 1.7m dwt while its average age will decrease to three years. [18/04/07]
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