Diamond S Shipping Announces Sale Two Product Carriers For Fleet Renewal
It has been announced by Diamond S Shipping Inc. (the “Company”) that it has agreed to sell two of its 2008-built medium-range product carriers, the Atlantic Aquarius and Atlantic Leo, as part of its fleet renewal initiatives.
It is expected that the vessels will be delivered in the third quarter or early the following quarter. This quarter, the Company will recognize a non-cash charge of about $9.5 million per vessel. The Company expects to the sale to generate liquidity of about $12 million in aggregate after repayment of outstanding debt and settlement of working capital.