Diana Shipping reaches agreement with BNP Paribas for a US$75 million five-year loan facility

Diana Shipping Inc. announced that on June 20, 2018 it signed a term sheet with BNP Paribas for a five year loan facility of up to US$75 million, subject to loan documentation.

The proceeds from the loan facility together with available cash will be used to voluntarily prepay in full the balance of US$130 million of the existing credit facility with BNP Paribas. The new loan facility will result in 17 of the Company's vessels being unencumbered.

Diana Shipping Inc.'s fleet currently consists of 50 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 22 Panamax). As of today, the combined carrying capacity of the Company's fleet is approximately 5.8 million dwt with a weighted average age of 8.84 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.

Photo Credit: Diana Shipping