Diana Shipping, Simeon Palios and some unidentified investors yesterday combined to inject $92m into the company.

Michael Webber of Wells Fargo says the deal gives Diana Containerships dry powder of around $300m for fresh acquisitions, assuming 60% debt financing can be achieved.

In a note to clients, Webber said the owner is likely to target second-hand panamax boxships.

Shares in the shipowner last traded at $2.47