Diana Shipping has sold a fifth vintage bulker to OceanPal, a late 2021 spinoff that it started with its three oldest bulkers.
New York-listed Diana, which will own 41 bulkers once this deal is complete, has signed a memorandum of agreement to offload the 76,225-dwt Melia (built 2005) to New York-listed OceanPal for $14m.
Eleftherios Papatrifon–led OceanPal has given $4m to Diana for the ship and plans to pay for the rest of it upon delivery in February by giving $10m worth in preferred stock.
