Diana Shipping Secures $55M Six-Year Loan, New Charter for Ultramax Vessel

Diana Shipping Inc., a global dry bulk vessel shipping company, has secured a $55 million six-year secured term loan facility with the National Bank of Greece, fully drawn down and secured by five vessels, to optimize its capital structure and enhance operational flexibility. The company operates a fleet of 36 dry bulk vessels, including various classes such as Newcastlemax and Capesize, with plans to add two methanol dual fuel new-building Kamsarmax vessels by 2028. Additionally, Diana Shipping finalized a lucrative time charter contract for its Ultramax vessel, m/v DSI Aquila, with Bunge SA, commencing October 12, 2025, at a gross rate of $14,500 per day, expected to generate approximately $7.15 million in gross revenue. This new charter rate represents an increase from the vessel's previous contract and supports Diana Shipping's strategic efforts to strengthen revenue streams amid recent financial challenges. The company maintains a healthy operating margin of 22.09% and a gross margin of 37.95%, reflecting efficient cost management despite a recent revenue decline. Overall, these developments position Diana Shipping to enhance its market presence and financial stability in the dry bulk shipping industry.