Diana sells boxship pair to Poseidon as seven-ship deal falls through

Diana Containerships has sold two 2004-built post-panamax containerships, March and Great, to George Youroukos-led Poseidon Container Holdings for a total price of $22m.

According to Diana, Poseidon was unable to obtain finance for all seven vessels it agreed to buy in October last year, and so the original agreement was terminated.

The two vessels are expected to be delivered by March 30, and Diana will use the net proceeds from the sale to repay debt under its credit agreements.

After the sale is completed Diana Containerships will have 9 container vessels in its fleet, made up of 4 post-panamaxes and 5 panamaxes.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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