Diana Shipping Inc. Announces Signing and Drawdown of a US$100 Million Term Loan Facility with Danish Ship Finance A/S to Refinance Existing Loan Facilities

20 Apr 2023 16:17 CEST

ATHENS, GREECE, April 20, 2023 – Diana Shipping Inc. (NYSE: DSX), (the
“Company”), a global shipping company specializing in the ownership and bareboat
charter-in of dry bulk vessels, today announced that on April 12, 2023, it
signed a term loan facility with Danish Ship Finance A/S for up to US$100
million with maturity date in April 2028. Yesterday, it concluded the drawdown
of US$100 million, secured by nine vessels. The proceeds from the loan facility
refinanced other loan facilities with an aggregate outstanding amount of
approximately US$87 million, namely two existing loan facilities with BNP
Paribas of approximately US$75.2 million (maturity dates in July 2023 and in May
2024) and another loan facility with DNB Bank ASA of approximately US$11.8
million (maturity date in March 2024) related to the same nine vessels. The
remaining proceeds may be used to pay transaction costs and expenses incurred in
connection with the loan agreement and/or general corporate purposes.

Diana Shipping Inc.’s fleet currently consists of 42 dry bulk vessels (4
Newcastlemax, 10 Capesize, 5 Post-Panamax, 6 Kamsarmax, 7 Panamax and 10
Ultramax). As of today, the combined carrying capacity of the Company’s fleet,
is approximately 4.7 million dwt with a weighted average age of 10.0 years. A
table describing the current Diana Shipping Inc. fleet can be found on the
Company’s website, www.dianashippinginc.com. Information contained on the
Company’s website does not constitute a part of this press release.

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