Performance Shipping is selling one of its small panamax boxships to an unnamed buyer as it continues to reduce its exposure to the container market.
The owner, formerly known as Diana Containerships, has signed a memorandum of agreement to sell the 5,042-dwt Pamina (built 2005) for $9.13m before commissions.
The vessel will be delivered to the buyer by November 15 at the latest, the Nasdaq-listed shipowner said in a release on Tuesday.
As TradeWinds has reported, Performance fixed the Pamina in mid-August for eight to 12 months at around $11,950 per day with Hyundai Merchant Marine.
The rate is an increase compared to the $9,500 per day (plus 3.75% commission) the vessel was earning during its previous charter.
Fleet picture
With this sale and the recent acquisition of two tankers, Performance continues to diversify away from being a pure-play boxship owner.
Following the sale of Pamina, Performance's fleet will consist of three container vessels (two post-panamax and one panamax) and one aframax tanker vessel.
Another aframax is due for delivery by November this year.
The aframax pair were purchased for $60m from Maersk Tankers in June, as TradeWinds has reported.
Performance reported a net loss of $1.6m for the second quarter, which includes a $300,000 impairment charge on one vessel.
The quarterly result was held back by a reduction in timecharter revenue and vessel impairment charges, but is a marked improvement on the loss of $42.3m posted during the same period last year.
