Diana Shipping inks sustainability-linked loan

Greek shipping company 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.

As informed, 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.

“We are pleased to have signed this loan agreement with ABN AMRO Bank… 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,” Semiramis Paliou, Diana’s Chief Executive Officer, commented.

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

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.