Diana Finances

It pays to have a strong balance sheet. Last Friday, Diana Shipping announced that it had obtained a ten-year term loan for $40 million from Bremer Landesbank. Proceeds will be used to part finance the purchase of the M/V Houston, a 177,729 DWT Capesize bulkcarrier built in China. The vessel is chartered to Shagang Shipping Co., the guaranteed nominee of the Jiangsu Shagang Shipping Group Co. for approximately 60 months at a gross rate of $55,000 per day.

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