Diana Secures Financing for Capesize Bulker

  • Business & Finance

Dry bulk shipping company Diana Shipping Inc. informed that it has completed a drawdown of USD 30 million, through a separate wholly-owned subsidiary, under a term loan facility it signed with Danish Ship Finance A/S.

The proceeds will be used to partially finance the acquisition cost of a Capesize dry bulk vessel, the m/v Santa Barbara.

Diana took delivery of the vessel on January 12, 2015.

This was a pretty busy week for Diana, with respect to fleet developments, as just two days ago the company added two vessels to its fleet, a second-hand Kamsarmax and a newbuild Capesize bulker.

Diana Shipping Inc.’s fleet currently consists of 40 dry bulk vessels that add up to a combined carrying capacity of approximately 4.6 million dwt with a weighted average age of 7.1 years.

The company expects to take delivery of one Kamsarmax dry bulk vessel during the second quarter of 2015, one new-building Capesize dry bulk vessel during August 2015, two new-building Newcastlemax dry bulk vessels and one new-building Kamsarmax dry bulk vessel during the second quarter of 2016.

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