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Diana Shipping receives loan repayment to Diana Containerships

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Dry Bulk,

Diana Shipping Inc., a global shipping company specialising in the ownership of dry bulk vessels, announced that on 23 July 2018, it received the full and final repayment of the loan to Diana Containerships Inc.

The company’s Director, Chief Executive Officer and Chairman of the Board, Simeon Palios, has commented that: “We are delighted that our loan to Diana Containerships Inc. originally agreed in May 2013 and refinanced in June 2017 was repaid in full and ahead of schedule. In addition to the full repayment of the outstanding principal amount, the company received aggregate interest and other payments, including a discount premium in the amount of US$5.0 million, of approximately US$19.8 million during the life of the facility.

“The company believes that the above-mentioned amount reflects an attractive return on the company’s available cash during the recent downturn in the dry bulk sector. Additionally, we believe the timing of this repayment and the strengthening of the company’s balance sheet comes at an opportune time in the dry bulk cycle.”

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