GoodBulk has refinanced its fleet by securing a new $200m loan, which should enable the shipowner to recommence dividend payments to investors, according to its chief executive.

The Monaco-based bulker company will use the new funds to refinance the full amounts outstanding under five of its six existing loans. The outfit expects to close the transaction in July.

The facilities were originally provided by European banks ABN AMRO, Credit Suisse, Danish Ship Finance and ING.