of a US$167.3 Million Term Loan Facility with Nordea Bank
to Refinance Two Existing Term Loan Facilities with Nordea
ATHENS, GREECE, July 26, 2024 – Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced the successful signing of a US$167.3 million six-year secured term loan facility with Nordea Bank Abp, filial i Norge on July 25, 2024. The full amount was drawn down immediately.
The new loan maturing in July 2030 is secured by ten vessels. The proceeds have been utilized to refinance two of the Company’s existing loan facilities with Nordea Bank Abp, filial i Norge: one for US$149.3 million and the other for US$18.0 million, originally maturing in October 2027 and June 2028, respectively. These loans were previously secured by twelve vessels. As part of this refinancing, two of the Company’s mortgaged vessels have been released.
This strategic financial move underscores the Company’s commitment to optimizing its capital structure and enhancing operational flexibility.
Upon completion of the previously announced sale of m/v Houston, Diana Shipping Inc.’s fleet will consist of 38 dry bulk vessels: 4 Newcastlemax, 8 Capesize, 5 Post-Panamax, 6 Kamsarmax, 6 Panamax and 9 Ultramax. The Company also expects to take delivery of two methanol dual fuel new-building Kamsarmax dry bulk vessels by the second half of 2027 and the first half of 2028, respectively. As of today, the combined carrying capacity of the Company’s fleet including the m/v Houston and excluding the two vessels not yet delivered, is approximately 4.4 million dwt with a weighted average age of 10.98 years. A table describing the current Diana Shipping Inc. fleet can be found on the Company’s website, www.dianashippinginc.com. Information contained…
