ATHENS, GREECE, June 25, 2012 – Diana Shipping Inc. (NYSE: DSX), a global shipping company specializing in the ownership and operation of dry bulk vessels, announced that on June 22, 2012, it completed the drawdown of US$10.325 million through a supplemental loan agreement with Nordea Bank Finland Plc, London Branch. This drawdown increased the size of the previously announced term loan facility from the original amount of US$16.125 million to an amount of up to US$26.450 million.
The purpose of this increase in the facility is to partially finance the acquisition cost of the m/v “Melia”, which was delivered to the Company on May 1, 2012. The initial purpose of the facility was to partially finance the acquisition cost of the m/v “Leto”, which was delivered to the Company on January 16, 2012.
Diana Shipping Inc.’s fleet currently consists of 28 dry bulk carriers (17 Panamax, 1 Post-Panamax, 8 Capesize and 2 Newcastlemax), as well as 2 new-building Ice Class dry bulk Panamax vessels expected to be delivered to the Company during the fourth quarter of 2013. As of today, the combined carrying capacity of our current fleet, excluding the two vessels not yet delivered, is approximately 3.2 million dwt with a weighted average age of 5.9 years. A table describing the current Diana Shipping Inc. fleet can be found on the Company’s website, www.dianashippinginc.com. Information contained on the Company’s website does not constitute a part of this press release.
About the Company
Diana Shipping Inc. is a leading global provider of shipping transportation services through the ownership and operation of dry bulk vessels. The Company’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.