The Greek dry bulk owner Diana Shipping led-by Simeon Palios, a well-known Greek businessman and shipping veteran who has spent many years in the industry, has announced today that, through a separate wholly-owned subsidiary, has sold the vessel Melia, a 2005-built Panamax dry bulk vessel with a carrying capacity of 76,225 deadweight, to OceanPal.

The sale price of the vessel is US$14.0 million, whereof US$4.0 million was paid upon signing of the Memorandum of Agreement, and the remaining amount will be paid upon the delivery of the vessel in the form of shares of the OceanPal Inc.’s Series D Preferred Stock.

The dry bulk shipowner also stated that the aggregate sale price was agreed upon based on the average of two independent shipbroker vessel valuations, taking into account the share-based component of the consideration.

The delivery to the buyer is expected to occur by the end of February 2023. The sale and purchase of the vessel was made pursuant to OceanPal Inc.’s exercise of a right of first refusal granted by the company on six identified vessels (including the vessel Melia) based on an agreement dated November 8, 2021. The sale of the vessel Melia to OceanPal was approved by a committee of independent members of the company’s board of directors, as Diana Shipping declared.

The New York-listed Greek bulker owner, which specialises in the ownership and bareboat charter-in of dry bulk vessels, said today that upon completion of the previously announced sale of vessel Aliki and the aforementioned sale, Diana´s Shipping fleet will consist of 41 dry bulk vessels (4 Newcastlemax, 10 Capesize, 5 Post-Panamax, 6 Kamsarmax, 7 Panamax and 9 Ultramax).

From today, the combined carrying capacity of the fleet, including Melia and Aliki, is approximately 4.9 million deadweight with a weighted average age of 10.27 years.

Source: Diana Shipping