Marine Link
Sunday, December 17, 2017

Diana Shipping Sells Panamax Dry Bulk Vessel

October 12, 2017

Melite. Photo: Diana Shipping Inc.

Melite. Photo: Diana Shipping Inc.

 Diana Shipping, a global shipping company specializing in the ownership of dry bulk vessels,  announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party, the 2004-built vessel “Melite” for demolition, on an “as is where is” basis, with delivery due to the Buyers by October 30, 2017, for a sale price of approximately US$2.52 million before commissions.

 
The Owners of “Melite” have submitted a Notice of Abandonment to their Hull and Machinery Underwriters, who have not, as of today’s date, accepted this Notice, but have agreed to the sale of the vessel on the terms outlined in the above mentioned  Memorandum of Agreement. 
 
This Notice of Abandonment forms part of Owners’ claim against the vessel’s Hull and Machinery Underwriters resulting from the previously announced grounding of the vessel on July 26, 2017, and which if accepted by the insurers will result in the payment to Owners of the vessel’s total insured value of approximately US$14.0 million.
 
Upon completion of the aforementioned sale, Diana Shipping Inc.’s fleet will consist of 50 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 22 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Melite, is approximately 5.9 million dwt with a weighted average age of 8.2 years. 
 
Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News