Goodbye Diana Containerships, hello Performance Shipping?
The Simeon Palios-led boxship player is asking shareholders to approve a name change at its 19 February annual meeting, to be held at the Four Seasons Hotel in Limassol.
The proposal, included in a Securities and Exchange Commission filing made after the close Thursday, would rename the New York-listed company "Performance Shipping, Inc."
The filing does not make clear whether the change is an aesthetic one or a signal Palios is moving to diversify the company's fleet.
During 2018, the company sold off six containerships according to VesselsValue, leaving it with just four.
It sold two ships to Technomar last January, another two in March to Ahrenkiel Steamship and two more in May in separate deals to MPC Capital and Nissen Kaiun. The total sale price for all six was $88.1m.
VesselsValue pegs its current total fleet value at $53.1m.
Name changes are not uncommon in shipping. In the fall, Anangel Maritime Services moved to rename itself Maran Dry Management to bring its moniker in line with what chief executive John Angelicoussis uses for his tanker and gas carrier companies.
Wallenius Wilhelmsen Logistics dropped the "logistics," as it moved to split operations and over the summer, IM Skaugen became IMSK as the LNG carrier went through restructuring.