2021 May 19 17:25

Diana Shipping signs loan facility with ABN AMRO Bank to refinance four existing loans

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, has announced that on May 14, 2021, it signed a sustainability linked loan facility with ABN AMRO Bank N.V., through six wholly-owned subsidiaries, in the amount of US$91 million, according to the company's release. The purpose of the senior secured term loan facility was the refinancing of existing indebtedness on the borrowers' vessels, m/v Medusa, m/v New Orleans, m/v Los Angeles, m/v Philadelphia, m/v Santa Barbara and m/v Artemis, and for general corporate purposes.

Upon completion of the previously announced sale of one Panamax dry bulk vessel, the m/v Naias, Diana Shipping Inc.’s fleet will consist of 36 dry bulk vessels (4 Newcastlemax, 12 Capesize, 5 Post-Panamax, 5 Kamsarmax and 10 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Naias, is approximately 4.7 million dwt with a weighted average age of 10.24 years.

About the Company

Diana Shipping Inc. is a 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.