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Diana Shipping Inc. announces receipt of refund

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Dry Bulk,

Diana Shipping Inc. a global shipping company specialising in the ownership of dry bulk vessels, has announced that in connection with the previously announced cancellation of a shipbuilding contract for a Kamsarmax dry bulk carrier, Hull No. DY6006, with an original delivery date of 31 May, 2016, the company has received a refund payment of approximately US$9.4 million.

The refund payment to the Company was made under the Refund Guarantee from the Export-Import Bank of China and reflects a refund of the first and second installment payments under the shipbuilding contract. The refund amount constitutes the repayment of all monies paid by the Company in connection with the cancelled shipbuilding contract, together with interest thereon.

For additional details about the cancellation of the shipbuilding contract, please see the Diana Shipping's press release dated 3 November, 2016.

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Dry bulk shipping market