Diana Containerships is to sell its panamax boxship Cap Domingo (3,739teu, built 2001) to an unnamed buyer for US$24.25m.

The Athens-based owner has signed a memorandum of agreement (MOA) with the unnamed buyer. The sale transaction is expected to close by Sept. 4, pending approval from the buyer's board of directors.

The vessel will be delivered by mid-March 2016, after it completes its current employment next March.

Germany's Rudolf A Oetker KG fixed the ship on a 13-month timecharter in November 2014, and is paying a gross rate of US$9,900 per day, minus 3.75% commission for third parties. The fixture was a novation from the vessel's original charterers Reederei Santa Containerschiffe GmbH & Co KG.

After the sale of the Cap Domingo, Diana Containerships' fleet will consist of 12 containerships, of which four are post-panamax and eight are panamax in size.