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Diana Shipping scraps bulker which grounded off Indonesia

Diana Shipping scraps bulker which grounded off Indonesia

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Greek owner Diana Shipping has sealed an agreement to sell the 2004-built panamax bulker Melite for demolition.

Melite grounded at Pulau Laut, Indonesia in July sustaining significant damage to its hull.

The vessel, which is still at anchor off Palau Laut, was sold on an ‘as is where is’ basis for $2.52m with delivery due by October 30.

Diana has submitted a Notice of Abandonment to their hull and machinery underwriters, which if accepted will result in the payment of the vessel’s total insured value of approximately $14m.

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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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