Greece–based Diana Shipping has signed a memorandum of agreement (MOA) through its subsidiary to sell its vessel built in 2002.

The vessel named Norfolk will be sold by 25 February for $9.35m to an unaffiliated third party.

The company also signed a time charter contract with Aquavita International for one of its Kamsarmax dry bulk vessels, named m/v Maia. The agreement will come into force from 29 January.

According to the deal, the gross charter rate is $11,200 a day, excluding a 5% commission paid to third parties for a minimum period of 14 to 16 months.

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Maia is a Kamsarmax dry bulk vessel with a capacity of 82,193 deadweight tonnage (dwt).

The company expects the deal to generate gross revenue of approximately $4.7m during the charter period.

With the sale of Norfolk and Panamax dry bulk vessel Calipso, Diana Shipping’s fleet consists of 40 dry bulk vessels, including four Newcastlemax, 13 Capesize, five Post-Panamax, five Kamsarmax and 13 Panamax.

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The total Diana Shipping’s fleet carrying capacity is approximately 5.2 million dwt with 9.62 years weighted average age.

Earlier this month, Diana Shipping signed another time charter contract with Aquavita International for m/v Astarte, a Kamsarmax dry bulk vessel.

Built in 2010, Astarte is a dry bulk vessel that can accommodate 81,513dwt of goods.

The company also signed two-time charter contracts for its Panamax dry bulk vessels, Ismene and Oceanis, with Phaethon International Company.

Ismene has a capacity of 77,901dwt, while Oceanis’ capacity is is 75,211dwt.