Diana obtains US$30 mio term loan facility from Danish Ship Finance

Company Profiles, Dry Bulkcarriers, Markets, News, Shipfinance, Stock Markets — By on April 30, 2015 at 4:42 PM

sideris GS FUNNELDIANA SHIPPING INC. ANNOUNCES SIGNING AND DRAWDOWN OF A US$30 MILLION TERM LOAN FACILITY WITH DANISH SHIP FINANCE 

ATHENS, GREECE, April 30, 2015 – Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, today announced that it has completed a drawdown of US$30 million, through a separate wholly-owned subsidiary, under a term loan facility it signed with Danish Ship Finance A/S. The proceeds will be used to partially finance the acquisition cost of a Capesize dry bulk vessel, the m/v Santa Barbara, which was delivered to the Company on January 12, 2015.

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 one Kamsarmax dry bulk vessel during the second quarter of 2015, one new-building Capesize dry bulk vessel during August 2015, 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 the Company’s fleet, excluding the five vessels not yet delivered, is approximately 4.6 million dwt with a weighted average age of 7.1 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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