Diana Shipping signs Supplemental Agreement with BNP Paribas

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(Image Courtesy: Diana Shipping)

Diana Shipping Inc., through two wholly-owned subsidiaries owning the m/v G. P. Zafirakis and m/v P. S. Palios, has signed a supplemental agreement to the existing secured loan agreement with BNP Paribas, to extend by 2.5 years the maturity of the existing secured loan facility until May 19, 2024.

The Company also announced that on Tuesday (June 30, 2020) it signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party, the 2007-built vessel “Arethusa”, with delivery to the buyer latest by August 31, 2020, for a sale price of US$7.85 million before commissions.

Upon completion of the aforementioned sale, Diana Shipping Inc.’s fleet will consist of 40 dry bulk vessels (4 Newcastlemax, 13 Capesize, 5 Post-Panamax, 5 Kamsarmax and 13 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Arethusa, is approximately 5.1 million dwt with a weighted average age of 9.79 years.

Sea News, July 1

Baibhav Mishra
Author: Baibhav Mishra