Craig Stevenson’s Diamond S Shipping has confirmed that it has reached a definitive agreement with Cido Shipping to purchase 30 product carriers along with their related charters.

The deal will turn Diamond S Shipping, which was only set up in 2007, into one of the world’s top half dozen owners of medium range product carriers.

But Cido Shipping, previously the biggest owner in this sector with a fleet of vessels centred around 47,000-dwt ceases to be a major player in this market.

Craig Stevenson
Greenwich, Connecticut based Diamond S said the acquisition would close subject to the customary conditions in the current quarter.

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