Hot on the heels of the vintage capesize sale the Greek bulker owner Diana Shipping has offloaded its oldest panamax to its spinoff OceanPal.

The 2005-built Melia will change hands for $14m, of which $4m has already been paid while the remaining amount will be paid upon delivery in February in the form of OceanPal’s preferred stock.

In 2021, Diana spun off three of its older ships into OceanPal and shipped out another cape to the Nasdaq-listed company in June 2022.

Upon completion of all transactions, including the cape Aliki sold to Jiangsu Steamship, Diana’s fleet will stand at 41 ships, while OceanPal will count a pair of capes and three panamaxes.

Source : Splash247