Diana Shipping announces signing and drawdown of a US$25,755,000 term loan facility
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, through two separate wholly-owned subsidiaries, it completed a drawdown of US$25,755,000 under a term loan facility it signed with ABN AMRO Bank N.V. The proceeds will be used to finance the entire acquisition cost of m/v Infinity 9 (tbr. “Ismene”), that was delivered to Diana Shipping on March 21, 2016 and m/v Selina, that was delivered to Diana Shipping on March 24, 2016.
Separately, Diana Shipping also announced that consummation of the purchase of m/v Manzoni is still subject to Diana Shipping obtaining bank financing from the sellers’ existing lenders, for substantially all of the purchase price of the vessel.
Diana Shipping Inc.’s fleet currently consists of 45 dry bulk vessels (2 Newcastlemax, 14 Capesize, 3 Post-Panamax, 4 Kamsarmax and 22 Panamax). Diana Shipping also expects to take delivery of one Panamax dry bulk vessel by the end of April 2016, one new-building Newcastlemax dry bulk vessel during the third quarter of 2016, as well as one new-building Newcastlemax dry bulk vessel and one new-building Kamsarmax dry bulk vessel during the fourth quarter of 2016.
As of today, the combined carrying capacity of Diana Shipping’s fleet, excluding the four vessels not yet delivered, is approximately 5.2 million dwt with a weighted average age of 7.5 years.
About the Company
Diana Shipping Inc. is a global provider of shipping transportation services through its ownership of dry bulk vessels. Diana Shipping’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.