Diana signs a term loan facility with Nordea

Banking, Dry Bulkcarriers, Markets, News, Ocean Shipping, Shipfinance — By on March 20, 2015 at 1:24 PM

sideris GS FUNNELDIANA SHIPPING INC. ANNOUNCES SIGNING OF A TERM LOAN FACILITY WITH NORDEA BANK AND SUBSEQUENT DRAWDOWN OF US$93.08 MILLION 

ATHENS, GREECE, March 20, 2015 – Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, today announced that on March 17, 2015, it signed a term loan facility with Nordea Bank AB, London Branch. Yesterday, through eight wholly-owned subsidiaries, it completed a drawdown of US$93.08 million, secured by the vessels m/v Leto, m/v Melia, m/v Polymnia, m/v Amphitrite, m/v Aliki, m/v Coronis, m/v Baltimore and m/v Myrsini. The proceeds will be used for the re-financing of m/v Leto, m/v Melia, m/v Polymnia and m/v Amphitrite and their existing indebtedness of US$38.3 million, and for general corporate and working capital purposes.

Diana Shipping Inc.’s fleet currently consists of 40 dry bulk vessels (2 Newcastlemax, 12 Capesize, 3 Post-Panamax, 3 Kamsarmax and 20 Panamax). The Company also expects to take delivery of two new-building Newcastlemax dry bulk vessels and one new-building Kamsarmax dry bulk vessel during the second quarter of 2016. As of today, the combined carrying capacity of our fleet, excluding the three vessels not yet delivered, is approximately 4.6 million dwt with a weighted average age of 6.98 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 its ownership 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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