We continue to have one of the strongest balance sheet in our industry. Our cash position at June 30, 2012 was in excess of US$451 million. The company continues to have solid access to credit. We drew down US$34.65 million on our line with China Exim Bank in connection with the purchase of the Philadelphia and in total drew down US$10,325 million from an increased Nordea Bank term loan facility for the Melia.We continue to operate with a very manageable degree of leverage. Long-term debt including current portion and net of financial charges was US$461 million at June 30, 2012, compared to stockholder’s equity of $1.2 billion. Our solid financial position helps to ensure stability in a volatile market and this also assures of support for continued growth initiatives.
Diana Shipping's CEO Discusses Q2 2012 Results - Earnings Call Transcript
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