Diana Shipping has sold one of its panamax bulk carriers while extending the due date on a secured loan.

The Semiramis Paliou-led bulker owner has signed a memorandum of agreement with "an unaffiliated third party" to sell the 73,593-dwt Arethusa (built 2007) for $7.85m.

Diana Shipping has not disclosed the buyer, but Castor Maritime said it bought a 2007 Chinese-built Panamax dry bulk carrier for $7.85m