Diamond S Secures USD 525 Million

Owner and operator of crude and product tankers Diamond S Shipping Inc. has obtained on a five-year USD 525 million credit facility.
According to the company, the facility is comprised of a USD 375 million term loan and a USD 150 million revolving credit. The funds were used to repay about USD 500 million of Diamond's current outstanding term loans.

“We are pleased that we were able to close on this facility and achieve a number of important goals, particularly given the challenging international environment for ship lending,” Kevin Kilcullen, Chief Financial Officer, stated.

The facility was issued by ship lending banks including Nordea Bank Abp, Crédit Agricole Corporate and Investment Bank, ABN AMRO and BNP Paribas.
Diamond S owns and operates 66 vessels, including 15 Suezmax vessels.

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NY Ports Addressing Cyber Threats

The Area Maritime Security Committee (AMSC) for the Port of New York and New Jersey has formed an alliance to combat growing cybersecurity challenges. The US Coast Guard and AMSC for the Port of New York and New Jersey have implemented a series of measures to enhance maritime cybersecurity and port resilience. The coalition includes members from the maritime industry, Rutgers University and Stevens Institute.

The AMSC will share cyber threat information and participate in routine cyber exercises. Additionally, a Cyber Advisory Committee will be tasked with assisting in cyber-incident responses, as well as rewarding stakeholders who take a proactive approach to cybersecurity.

“Cyberattacks are a 21st century reality and an ever-present operational risk that we must be ready for,” Vitol Group's Jeff Milstein said.