Diana’s term loan facility with ABN AMRO Bank NV

Banking, Dry Bulkcarriers, Markets, News, Shipfinance — By on March 31, 2015 at 12:30 PM

sideris GS FUNNELDIANA SHIPPING INC. ANNOUNCES SIGNING OF A TERM LOAN FACILITY WITH ABN AMRO BANK AND SUBSEQUENT DRAWDOWN OF US$50.16 MILLION 

ATHENS, GREECE, March 31, 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 26, 2015, it signed a term loan facility with ABN AMRO BANK N.V. Yesterday, through three wholly-owned subsidiaries, it completed a drawdown of US$50.16 million, secured by the vessels m/v New York, m/v Maia and m/v Myrto. The total indebtedness of these vessels as at December 31, 2014 stood at US$44.35 million with another bank, which is now fully repaid.

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 7.0 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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