Diana and Wilhelmsen start shipmanagement joint venture
Athens: NYSE-listed Diana Shipping and Wilhelmsen Ship Management (WSM) have founded Diana Wilhelmsen Management, a 50/50 joint venture (JV).
The new JV will provide management services to an unspecified number of vessels in Diana Shipping’s fleet.
Diana Wilhelmsen Management is due to begin operations later this quarter and will be based in Limassol, Cyprus.
“This joint venture will provide Diana Shipping with an expanded capability to provide high-quality management services to vessels in its fleet, while creating an opportunity to further enhance shareholder value through increased revenues by eventually providing management services to unaffiliated third-party vessel operators,” Simeon Palios, chairman and CEO of Athens-based Diana Shipping, said in a statement today.