Diana Shipping Inc. a global shipping company that specialises in the ownership of dry bulk vessels, has signed, through three separate wholly-owned subsidiaries, a term loan facility for up to US$75 734 900 with The Export-Import Bank of China.
The company has carried out this loan facility is to partially finance, after delivery, the acquisition cost of two new-building newcastlemax dry bulk vessels of approximately 208 500 DWT each and one new-building kamsarmax dry bulk vessel of approximately 82 000 DWT.
The signing of the relevant shipbuilding contracts was announced by the Company on 21 May 2013 and 8 January 2014, respectively.
Based on latest information received from the yards, the one new-building newcastlemax dry bulk vessel is now expected to be delivered to the company during 3Q16 and the second new-building newcastlemax dry bulk vessel, as well as the one new-building kamsarmax dry bulk vessel are expected to be delivered during 4Q16.
Excluding the three aforementioned vessels, Diana Shipping Inc.’s fleet currently consists of 43 dry bulk vessels: 2 newcastlemax, 14 capesize, 3 post-panamax, 4 kamsarmax and 20 panamax. The combined carrying capacity of the company’s fleet – excluding the three vessels not yet delivered – is approximately 5 million DWT with a weighted average age of 7.37 years.
Diana Shipping’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.
Edited from press release by Harleigh Hobbs