Greek shipping company Diana Containerships has signed a memorandum of agreement (MOA) to sell its Panamax vessel Angeles for scrapping for around US$6.69m before commissions.

Previously named YM Los Angeles, the vessel is expected to be delivered to an unnamed buyer by mid-November 2016.

The 4,923teu Angeles was built in 2006 by Japanese shipbuilder Koyo Dockyard.

The 65,123dwt boxship features a length of 294 meters and a width of 32.2 meters.

Upon completion of the above-mentioned sale, Diana Containerships' fleet will consist of 12 container vessels, including 6 Post-Panamaxes and 6 Panamaxes.

Market value of the company's current fleet of 13 vessels stands at US$113.45m.