Diana and Wilhelmsen start shipmanagement joint venture

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.

 

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

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