The refund payment to the Company was made under the Refund Guarantee from the Export-Import Bank of China and reflects a refund of the first and second installment payments under the shipbuilding contract. The refund amount constitutes the repayment of all monies paid by the Company in connection with the cancelled shipbuilding contract, together with interest thereon.
For additional details about the cancellation of the shipbuilding contract, please see the Diana Shipping's press release dated 3 November, 2016.
