Diana Containerships Looking to Sell up to Seven Ships

Greek boxship owner Diana Containerships has entered into an agreement to sell up to seven of its containership vessels for an aggregate purchase price of up to USD 104 million to an unaffiliated third party.

The company said that separate Memoranda of Agreement will be signed for each vessel, adding that the deals are subject to the purchaser obtaining certain minimum financing. The company did not disclose the names of the vessels in question.

“Depending on the level and timing of financing the buyer is able to obtain, the actual number of vessels to be sold to the buyer may be fewer than the seven, and will in each case be at prices that have been agreed to by the company and the buyer as of the date hereof,” according to Diana.

The vessel sales are expected to be completed during the first quarter of 2018, subject to extension under certain circumstances.

Diana plans to use the net proceeds from the sale of the containerships to repay indebtedness under its previously announced credit agreements with Addiewell and Diana Shipping.

“We believe that the transaction reflects attractive sale terms for the vessels in the current market, which will further strengthen the company’s balance sheet, decrease its fleet’s age profile and may allow the company to pursue a strategy of selective acquisitions of additional modern container vessels,” Anastasios Margaronis, Diana Containerships’ President, said.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Nov 2018 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 1 2

Offshore Wind Europe 2018

The Offshore Wind Europe speaker line-up is supported by executives who are leading the charge…

read more >

Europort 2018

From 15-17 May 2018, the 12th edition of Europort Romania willl take place in the IDU Hall in Constanta…

read more >

Petrochemical Supply Chain & Logistics Conference & Exhibition

The Petrochemical Supply Chain & Logistics Conference & Exhibition (15 – 16th November, Houston) is positioned at the forefront of the booming Petrochemical industry in North America.

This industry leading event is regarded as the most significant meeting place for supply chain & logistics professionals, where they meet to do business.

More Info

read more >

DREDGING FOR SUSTAINABLE INFRASTRUCTURE

The two-day-long programme offers six highly interactive sessions with contributions from…

read more >