Dry CargoEurope

Diana Shipping offloads ageing panamax bulker for $6.4m

Photo of Grant Rowles Grant RowlesJune 17, 2019
6 Less than a minute
Diana Shipping

Simeon Palios led Greek dry bulk owner Diana Shipping has sold 2004-built panamax vessel Thetis to an unaffiliated third party for $6.4m.

The sale price is lower than the $7.15m valuation of the bulker on VesselsValue.

Diana Shipping has been consistently selling off its older panamaxes since November 2018. The company has netted $42.6m in total from the sale of Triton, Alcyon, Dione, Danae, Erato and now Thetis. All of the vessels have fetched between $7m and $7.45m, with the exception of this latest sale.

Once the deal for the Chinese-built Thetis is completed, Diana Shipping will have a fleet of 44 dry bulk vessels.

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Photo of Grant Rowles Grant RowlesJune 17, 2019
6 Less than a minute
Photo of Grant Rowles

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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