Diana Shipping Inks Agreement with BNP Paribas

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Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, has announced that on June 20, 2018, it signed a term sheet with BNP Paribas for a five year loan facility of up to USD 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 USD 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.

Sea News, June 28