Diana Shipping announces completion of OceanPal spin-off

Posted on December 2, 2021

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, has completed the spin-off of its wholly-owned subsidiary, OceanPal Inc., effective November 29, 2021, according to the company’s release. The Company’s shareholders received one OceanPal Inc. share for every 10 shares of Diana Shipping Inc. held on the record date of November 3, 2021. To the extent the distribution would have resulted in any shareholder owning a fractional share of OceanPal Inc., such fractional share was rounded up to the next whole number of shares.

About the Company

Diana Shipping Inc. is a global provider of shipping transportation services through its ownership of dry bulk vessels. The Company’s vessels are employed primarily on medium to long-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.

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