DIANA Shipping Inc., announces signing and drawdown of a US$ 18 mio term loan facility with Deutsche Bank

News, Shipfinance, Stock Markets — By on June 21, 2013 at 5:01 PM

 sideris GS FUNNELATHENS, GREECE, June 21, 2013 – Diana Shipping Inc. (NYSE: DSX), a global shipping company specializing in the ownership and operation of dry bulk vessels, today announced that it has signed, through two separate wholly-owned subsidiaries, a term loan facility for up to US$18 million with Deutsche Bank Aktiengesellschaft Filiale Deutschlandgeschäft. The Company also completed the drawdown of US$18 million in order to partially finance the acquisition costs of the two Kamsarmax dry bulk carriers, the m/v “Myrto” and the m/v “Maia”, which were delivered to the Company on January 25, 2013 and February 19, 2013, respectively.

Diana Shipping Inc.’s fleet currently consists of 33 dry bulk carriers (2 Newcastlemax, 9 Capesize, 3 Post-Panamax, 2 Kamsarmax and 17 Panamax). The Company also expects to take delivery of one Panamax vessel during September 2013, 2 new-building Ice Class Panamax vessels during the fourth quarter of 2013 and the first quarter of 2014, and 2 new-building Newcastlemax vessels during the second quarter of 2016. As of today, the combined carrying capacity of our current fleet, excluding the five vessels not yet delivered, is approximately 3.7 million dwt with a weighted average age of 6.4 years. A table describing the current Diana Shipping Inc. fleet can be found on the Company’s website, www.dianashippinginc.com. Information contained on the Company’s website does not constitute a part of this press release.

About the Company

Diana Shipping Inc. is a leading global provider of shipping transportation services through the ownership and operation of dry bulk vessels. The Company’s vessels are employed primarily on medium to long-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.

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