Diana Shipping Offloads 14-Year Old Panamax

Greek dry bulker owner Diana Shipping Inc. has signed a Memorandum of Agreement to sell the 2005-built vessel Calipso to an unnamed third party.

Illustration. Image Courtesy: PxHere under CC0 Creative Commons license

As disclosed, the ship is sold for USD 7.275 million before commissions, and it is scheduled for delivery to the buyer latest by January 30, 2020.

Calipso is a 73,700 DWT Panamax bulk carrier, disposing 90,624 in cbm and build by Jiangnan Shanghai Changxing Hi from China. According to the data from VesselsValue, the ship is on time charter with the Hong Kong-based Crystal Sea until the end of December 2019. The two-month charter is set at USD 15,400 per day.

Upon completion of the aforementioned sale, Diana Shipping Inc.’s fleet will consist of 41 dry bulk vessels, including 4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 13 Panamax.

The combined carrying capacity of the company’s fleet, including the m/v Calipso, is approximately 5.2 million dwt with a weighted average age of 9.53 years.

Diana has sold a total of seven ships, since December 2018, pushing down the company’s time charter revenues for the third quarter of 2019 to USD 53.5 million, compared to USD 61.5 million for the same period of 2018.