UPDATE 1-Diana Shipping gets $40 mln loan from Bremer Landesbank - News

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UPDATE 1-Diana Shipping gets $40 mln loan from Bremer Landesbank

By: AFX | 13 Nov 2009 | 10:25 AM ET

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* Loan to part finance purchase of capesize vessel * Vessel has been chartered to Shagang Shipping Nov 13 (Reuters) - Diana Shipping Inc said it received a $40 million, 10-year term loan from Bremer Landesbank to finance part of the cost of buying capesize vessel "m/v Houston". The company has already taken delivery of the vessel, which has been chartered to Shagang Shipping Co for a minimum of 59 months to a maximum of 62 months at a gross rate of $55,000 per day. Capesize vessels are the largest dry bulk ships and typically haul iron ore or coal. Diana said it drew down the $40 million loan on Thursday. Shares of the company were up 1 percent at $15.66 Friday morning on the New York Stock Exchange. (Reporting by Hezron Selvi in Bangalore; Editing by Gopakumar Warrier) Keywords: DIANA/ (hezron.selvi@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging; hezron.selvi.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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