Recently, the Greek dry bulk carrier owner Diana Shipping, listed on the U.S. stock market, confirmed that the plan to sell a Supramax bulk carrier in which it holds a minority stake was not successfully executed.
According to the disclosed information, the Memorandum of Agreement signed between Diana Shipping, led by Semiramis Paliou, and the buyer, involving the company’s 2016-built Supramax vessel “DSI Drammen”, has been terminated.
It is reported that Diana Shipping holds a 25% stake in this 63,379 deadweight ton vessel through a limited partnership, with the remaining 75% equity held by the Norwegian company Ecobulk. The vessel was originally purchased by Diana from Norden for nearly $28 million, and 75% of the vessel’s ownership was sold to Ecobulk in early 2023.
According to the agreement announced by the company in mid-September, the vessel was originally scheduled to be delivered to the buyer before October 31, with a transaction price of approximately $26.86 million (excluding commissions). However, as of now, Diana Shipping has not provided any official explanation for the specific reason behind the cancellation of this transaction.
In a separate announcement, Diana Shipping disclosed that it has reached a new time charter agreement with the German shipowner Oldendorff Carriers, chartering out its 2013-built Panamax bulk carrier “Electra” to them.
The daily hire rate for this 87,150 deadweight ton bulk carrier is $14,000 (after deducting a 5% commission). The charter period will commence from December 2025 and last at least until December 2026. The charterer also holds an option to extend the charter period until January 2027. Calculated based solely on the minimum charter period, this contract is expected to generate approximately $5 million in gross revenue for Diana Shipping.
