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Diana Shipping continues panamax bulker sell-off

Greek dry bulk owner Diana Shipping has announced the sale of 2004-built panamax bulker Erato.

The Chinese-built vessel was sold to an unaffiliated third party for $7m, slightly below the VesselsValue market value of $7.2m. Completion of the sale is scheduled by June 10.

Diana Shipping has been selling off some of its older panamaxes this year and in February the company sold 2001-built panamaxes Danae and Dione. Last month, the company began circulating 2001-built panamax pair Nirefs and Oceanis, although a sale has yet to materialise.

The sale of Erato leaves Diana Shipping with a fleet of 45 dry bulk vessels.

Separately, Diana also announced a tender offer today to buy back up to 3.125m shares at a price of $3.20 per share.

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