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Diana Containerships selling up to seven vessels

Diana Containerships selling up to seven vessels

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Greek owner Diana Containerships says it has sealed an agreement to sell up to seven of its containerships for a total of up to $104m.

Separate MOAs have been signed for each vessel with the unnamed buyer, and the deal is subject to the buyer obtaining certain minimum financing.

The number of vessels acquired may end up less than seven, depending on the level of financing the buyer can obtain.

Anastasios Margaronis, president of Diana Containerships, commented: “We believe that the transaction reflects attractive sale terms for the vessels in the current market, which will further strengthen the company’s balance sheet, decrease its fleet’s age profile and may allow the company to pursue a strategy of selective acquisitions of additional modern container vessels.”

The sale is expected to be completed during the first quarter of 2018, and Diana Containerships will use proceeds to repay indebtedness and for possible vessel acquisitions.

Diana Containerships currently has 11 vessels in its fleet, made up of five panamaxes and six post-panamaxes.

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Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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