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Diana Shipping scraps bulker which grounded off Indonesia

Diana Shipping scraps bulker which grounded off Indonesia
Greek owner Diana Shipping has sealed an agreement to sell the 2004 built panamax bulker Melite for demolition.

Malite grounded at Pulau Laut, Indonesia in July sustaining significant damage to its hull.

The vessel, which is still at anchor off Palau Laut, was sold on an 'as is where is ' basis for $2.52m with delivery due by October 30.

Diana has submitted a Notice of Abandonment to their hull and machinery underwriters, which if accepted will result in the payment of the vessel's total insured value of approximately $14m.

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