Diana Shipping Inks Sustainability Linked Loan

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Diana Shipping has signed a sustainability-linked loan facility with Dutch ABN AMRO Bank through six wholly-owned subsidiaries in the amount of $91 million, says a press release published on their website.

Refinancing of existing indebtedness

The purpose of the senior secured term loan facility was the refinancing of existing indebtedness on the Borrowers’ vessels, m/v Medusa, m/v New Orleans, m/v Los Angeles, m/v Philadelphia, m/v Santa Barbara and m/v Artemis, and for general corporate purposes.

Commenting on this transaction, the Company’s Chief Executive Officer, Ms. Semiramis Paliou, stated:

“We are pleased to have signed this loan agreement with ABN AMRO Bank N.V., which is in accordance with our policy of managing our cash flow and loan maturities proactively for the benefit of our shareholders. The added sustainability aspect is essential not only for the potential additional  cost savings, but more importantly because it is in line with the Company’s  commitment towards its long-term sustainability goals.”

Diana’s fleet

Upon completion of the previously announced sale of one Panamax dry bulk vessel, the m/v Naias, Diana Shipping Inc.’s fleet will consist of 36 dry bulk vessels:

  • 4 Newcastlemax,
  • 12 Capesize,
  • 5 Post-Panamax,
  • 5 Kamsarmax and
  • 10 Panamax.

As of today, the combined carrying capacity of the Company’s fleet, including the m/v Naias,  is approximately 4.7 million dwt with a weighted average age of 10.24 years.

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Source: Diana Shipping

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