Diana Shipping will likely need to raise cash by issuing new equity after calling off talks with its banks at a time when the rising bulker market may not be enough to head off a looming liquidity gap, two analysts said Friday.
Evercore ISI analyst Jonathan Chappell says that equity is the only thing that can "save the day" for the New York-listed bulker owner since walking away from bank talks sweeps aside the possibility of pushing back payments on its debt, which most other dry-bulk names on Wall Street have achieved.
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