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

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 worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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