Diana Shipping Inc. Announces Signing of a Supplemental Agreement with BNP Paribas for a 2.5 Year Extension of the Maturity of the Existing Facility with the Bank

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, announced that on June 29, 2020, it signed, through two wholly-owned subsidiaries owning the m/v G. P. Zafirakis and m/v P. S. Palios, a supplemental agreement to the existing secured loan agreement with BNP Paribas, to extend by 2.5 years the maturity of the existing secured loan facility until May 19, 2024.

The Company also announced that today it signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party, the 2007-built vessel “Arethusa”, with delivery to the buyer latest by August 31, 2020, for a sale price of US$7.85 million before commissions.

Upon completion of the aforementioned sale, Diana Shipping Inc.’s fleet will consist of 40 dry bulk vessels (4 Newcastlemax, 13 Capesize, 5 Post-Panamax, 5 Kamsarmax and 13 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Arethusa, is approximately 5.1 million dwt with a weighted average age of 9.79 years.