Diana Shipping Announces Signing & Drawdown of Term Loan Facility

Diana Shipping Inc., a global shipping company specializing in the ownership and operation of dry bulk vessels, today announced that it has signed, through two separate wholly-owned subsidiaries, a term loan facility for up to US$18 million with Deutsche Bank Aktiengesellschaft Filiale Deutschlandgeschäft.

The company also completed the drawdown of US$18 million in order to partially finance the acquisition costs of the two Kamsarmax dry bulk carriers, the m/v “Myrto” and the m/v “Maia”, which were delivered to the Company on January 25, 2013 and February 19, 2013, respectively.

Diana Shipping Inc.’s fleet currently consists of 33 dry bulk carriers (2 Newcastlemax, 9 Capesize, 3 Post-Panamax, 2 Kamsarmax and 17 Panamax). The Company also expects to take delivery of one Panamax vessel during September 2013, 2 new-building Ice Class Panamax vessels during the fourth quarter of 2013 and the first quarter of 2014, and 2 new-building Newcastlemax vessels during the second quarter of 2016.

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Diana Shipping, June 21, 2013