Diamond S Shipping offloads product tanker pair

NYSE-listed Diamond S Shipping is selling two 2008-built medium-range product tankers, the Atlantic Aquarius and Atlantic Leo.

The company says the sale is part of its fleet renewal initiative, and the vessels are scheduled to be delivered in the third quarter or early in the fourth quarter.

The buyer and sale price were not revealed, though Diamond S Shipping said the sale will generate around $12m after the repayment of outstanding debt against the vessels. According to VesselsValue, the tankers have a fair market value of a little over $16m each.

The sale leaves Diamond S Shipping with a fleet of 66 tankers.

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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