Symeon Palios News

Greece-based global provider of shipping transportation services through its ownership of vessels has agreed to acquire a 2007-built aframax tanker for US$26.0 million.The company specializing in the ownership of containerships and tanker vessels said that it will acquire the entity from its Chairman and Chief Executive Officer, Symeon Palios, for an aggregate purchase price of US$11.0 million, which will be paid in common shares of the company at a per share price of US$0.9027. It is equal to the undiscounted closing price of the common stock on the NASDAQ stock exchange on November 18, 2019.The US$11.0 million purchase price of the…

Performance Shipping, a global shipping company specializing in the ownership of vessels,  announced that its board of directors has unanimously appointed Andreas Michalopoulos to the position of Deputy Chief Executive Officer, effective immediately.Michalopoulos, who is presently the Greek company’s Chief Financial Officer and Treasurer, will retain such position for the time being.While it is expected that Michalopoulos will eventually succeed Symeon Palios as Chief Executive Officer, Palios’ active role as Chief Executive Officer and Chairman of the Performance Shipping will be unchanged in the near term.Commenting on the appointment…

The provider of shipping transportation services through its ownership of containerships, Performance Shipping Inc.(PSI) announced that it has agreed to acquire two entities, which have signed contracts to purchase two 2011-built Aframax tanker vessels from an unaffiliated third party seller for a total purchase price of US$60.0 million.The transaction was unanimously approved by the disinterested members of the board of directors, said a press release from the Greece-based company.PSI will acquire the two entities affiliated with its Chairman and Chief Executive Officer, Symeon Palios, for an aggregate purchase price of US$10.0 million…

Greece-based Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, has reported net income of $0.6 million for the second quarter of 2014, compared to a net loss of $5.0 million for the respective period of 2013. The loss for the second quarter of 2013 was mainly the result of $4.3 million of losses arising from the disposal of three vessels. Time charter revenues, net of prepaid charter revenue amortization, were $12.5 million for the second quarter of 2014, compared to $12.2 million for the same period of 2013, mainly due to increased average time charter rates achieved, despite the decrease in ownership days in 2014 compared to 2013…

Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, today reported net income of $0.3 million for the first quarter of 2014, compared to a net loss of $31.8 million for the respective period of 2013. During the first quarter of 2014, the company incurred losses arising from the disposal of the vessel Sardonyx, amounting to $0.7 million, without which the net income for the first quarter of 2014 would have been $1 million and the earnings per share, basic and diluted, would have been $0.03 for that quarter.