Diana Shipping Signs Deal For Up To US$30mn Loan
News: Greece-based dry bulk operator Diana Shipping has entered into a term loan facility for as much as US$30mn with the Export-Import Bank of China holding a majority interest and DNB Bank ASA as agent. The loan agreement has been signed by the company through two separate wholly owned subsidiaries. The company will utilise the proceeds to partly finance the purchase of two new-building Ice Class Panamax dry bulk carriers of nearly 76,000 deadweight tonnage (DWT) each. The two vessels are scheduled to be delivered during Q413 and Q114 respectively. Meanwhile, Diana Shipping has also signed a memorandum of agreement to buy, the m/v Shoyo, from an unaffiliated third party. The 2006 built Panamax dry bulk carrier with 76,942DWT is valued at US$20.3mn. The vessel, to be renamed to Artemis, is scheduled to be handed over to the buyer during September 2013.