Greek dry bulk shipping company Diana Shipping has confirmed the successful signing of a US$167.3 million six-year secured term loan facility with Nordea Bank's Norway branch on Thursday, July 25. The company said the full amount was drawn down immediately.
The new loan maturing in July 2030 is secured by ten vessels. The proceeds have been utilised to refinance two of the company’s existing loan facilities with Nordea Bank: one for US$149.3 million and the other for US$18 million, originally maturing in October 2027 and June 2028, respectively.
These loans were previously secured by twelve vessels. As part of this refinancing, two of the company’s mortgaged vessels have been released.
Upon completion of the previously announced sale of the cargo vessel Houston, Diana Shipping’s fleet will consist of 38 dry bulk vessels: four Newcastlemax, eight Capesize, five Post-Panamax, six Kamsarmax, six Panamax, and nine Ultramax. The company also expects to take delivery of two methanol dual-fuel newbuilding Kamsarmax dry bulk vessels by the second half of 2027 and the first half of 2028, respectively.
As of today, the combined carrying capacity of the company’s fleet including Houston and excluding the two vessels not yet delivered, is approximately 4.4 million DWT with a weighted average age of 10.98 years.