Diana Shipping gets Dayang kamsarmax refund

Diana Shipping gets Dayang kamsarmax refund

Greek dry bulk owner Diana Shipping has received refunds of around $9.4m from the cancellation of a kamsarmax shipbuilding contract with Yangzhou Dayang Shipbuilding and Shanghai Sinopacific International Trade.

The vessel was originally scheduled for delivery in May 2016, however Diana cancelled the contract in November as the delays had reached over 150 days.

The refund guarantee was given by the Export-Import Bank of China and the refund amount reflects both the first and second installment payments plus interest.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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