M&A Deal Summary

OceanPal Acquires Diana Shipping s m/v Melia

On February 1, 2023, OceanPal acquired transportation company Diana Shipping s m/v Melia from Diana Shipping for 14M USD

Acquisition Highlights
  • This is OceanPal’s 1st transaction in the Transportation sector.
  • This is OceanPal’s largest (disclosed) transaction.
  • This is OceanPal’s 1st transaction in Greece.

M&A Deal Summary

Date 2023-02-01
Target Diana Shipping s m/v Melia
Sector Transportation
Buyer(s) OceanPal
Sellers(s) Diana Shipping
Deal Type Divestiture
Deal Value 14M USD

Target

Diana Shipping s m/v Melia

Palaio Faliro, Greece
Diana Shipping's m/v Melia is a 2005-built Panamax dry bulk vessel with a carrying capacity of 76,225 dwt.

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Buyer(S) 1

Buyer

OceanPal

Athens, Greece

Category Company
Sector Transportation
Revenue 19M USD (2023)
DESCRIPTION

OceanPal is a provider of shipping transportation services that specializes in the ownership of vessels. The company owns a high-quality fleet of dry bulk carriers that reduces operating costs, improves safety, and provides a competitive advantage in securing favorable charters. OceanPal is based in Athens, Greece.


DEAL STATS #
Overall 1 of 1
Sector (Transportation) 1 of 1
Type (Divestiture) 1 of 1
Country (Greece) 1 of 1
Year (2023) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Diana Shipping

Palaio Faliro, Greece

Category Company
Founded 1999
Sector Transportation
Employees1,018
Revenue 262M USD (2023)
DESCRIPTION

Diana Shipping is a global provider of shipping transportation services, and owner of a modern, high-quality fleet of dry bulk carriers. The company specializes in the ownership and bareboat charter-in of dry bulk vessels. Its fleet consists of 41 dry bulk vessels (4 Newcastlemax, 10 Capesize, 5 Post-Panamax, 6 Kamsarmax, 7 Panamax and 9 Ultramax) as well as a Capesize dry bulk vessel, and a Panamax dry bulk vessel. Diana Shipping Inc founded in 1999 and is based in Athens, Greece.


DEAL STATS #
Overall 1 of 1
Sector (Transportation) 1 of 1
Type (Divestiture) 1 of 1
Country (Greece) 1 of 1
Year (2023) 1 of 1
Size (of disclosed) 1 of 1