Diana Shipping is ecstatic about its $330m fleet purchase from Sea Trade Holdings and incredulous at analysis that it has paid too much for the ships.

That was the take on Friday from veteran Diana executive Ioannis Zafirakis, who was otherwise still in a celebratory mood after the New York-listed owner announced its entry to the ultramax sector with the nine-unit buy.

“We think it’s a great deal and we’re very happy about it,” said Zafirakis, who is chief financial officer and chief strategy officer.