Diana Shipping ends talks with lenders without a deal, posts bigger Q3 loss

Dry bulk shipowner Diana Shipowner previously announced talks with lenders related to certain proposed amendments of its outstanding loan facilities, but the discussions have ended without an agreement.

The company has also terminated its engagement of a financial advisor in connection with such discussions.

“The company is current in all payments of principal and interest under each of its existing loan facilities. The company does not currently anticipate resuming such discussions with its lenders,” Diana Shipping stated.

The shipowner also posted a third quarter net loss of $78.31m, widening from the deficit of $17.4m in the same period of last year, due mainly to a $54.4m impairment made to its investment in Diana Containerships.

Time charter revenues were recorded at $27.12m for the third quarter, down from $38.85m in the previous corresponding period.