Diana Shipping negotiates deal to ease loan terms with lenders
DIANA Shipping Inc, a global shipping company specialising in the ownership of dry bulk vessels, has announced that it has entered into negotiations with its lenders to amend its outstanding loan facilities.
The company said it has reached an agreement in principle with "certain" lenders, including its biggest, for the deferral of amortisation payments and amending financial covenants.
"This agreement in principle is subject to the company reaching similar deferral and covenant terms with its other lenders. In support of its negotiations with lenders, the company is currently deferring certain amortisation payments under its credit facilities," a statement said.
The company's vessels are employed primarily on medium to long-term time charters and transport a range of dry bulk cargoes, including iron ore, coal and grain worldwide.
DIANA Shipping Inc, a global shipping company specialising in the ownership of dry bulk vessels, has announced that it has entered into negotiations with its lenders to amend its outstanding loan facilities.
The company said it has reached an agreement in principle with "certain" lenders, including its biggest, for the deferral of amortisation payments and amending financial covenants.
"This agreement in principle is subject to the company reaching similar deferral and covenant terms with its other lenders. In support of its negotiations with lenders, the company is currently deferring certain amortisation payments under its credit facilities," a statement said.
The company's vessels are employed primarily on medium to long-term time charters and transport a range of dry bulk cargoes, including iron ore, coal and grain worldwide.