Diana Containerships to Sell Post-Panamax Duo

Image Courtesy: Diana Containerships

Athens-based shipping company Diana Containerships has reached an agreement to sell two of its 2004-built containerships for an aggregate price of USD 22 million.

Under the deal, reached with an unaffiliated third party, Diana Containerships will sell the Post-Panamaxes m/v March and m/v Great. The ships are expected to be handed over to their new owner at the latest by March 30, 2018.

Net proceeds from the sale would be used to repay indebtedness under Diana Containerships’ previously announced credit agreements.

The agreement was reached after the previous deal between the parties fell through. Namely, in October 2017, the Greek shipowner and the undisclosed purchaser agreed for the purchase of up to seven containerships for an aggregate purchase price of up to USD 104 million.

Diana Containerships has been advised that such financing has not been arranged and the parties agreed to terminate all rights and obligations under the prior deal.

Following the completion of the transaction, Diana Containerships’ fleet will consist of 9 container vessels.

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