Diana Containerships has the go-ahead to buyback nearly a third of its shares.
The Greek boxship owner said its board of directors had signed off on a plan allowing it to repurchase $6m of its 14.93 million shares.
Wednesday, Diana stock closed at $0.79.
At current prices, the plan would allow the buyback of 4.7 million shares, or 31.7%.
Should the company more forward with buybacks, it will do so on the open market or in private transactions.
The plan expires 21 December.
