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February 28, 2020

Diana Shipping agrees to sell Norfolk vessel

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

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

Norfolk will be sold by 6 April for $8.75m, before commissions, to an unaffiliated third party.

Last week, Diana Shipping signed an MOA through its subsidiary for the Norfolk vessel, but the buyers cancelled the sale.

Following the receipt of the cancellation notice, Diana Shipping initiated the process to return the deposit amount to buyers.

With the sale of Norfolk, Diana Shipping’s fleet now consists of 41 dry bulk vessels, including four Newcastlemax, 13 Capesize, five Post-Panamax, five Kamsarmax and 14 Panamax.

The total carrying capacity of the fleet is approximately 5.2 million dwt with 9.7 years weighted average age.

Last week, Diana Shipping signed a time charter contract with Koch Shipping Singapore for one of its Panamax dry bulk vessels Coronis.

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

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

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