DIANA SHIPPING INC. ANNOUNCES TIME CHARTER CONTRACT FOR M/V DSI ANDROMEDA WITH WBC

16 Nov 2022 16:21 CET

ATHENS, GREECE, November 16, 2022 – Diana Shipping Inc. (NYSE: DSX), (the
“Company”), a global shipping company specializing in the ownership and bareboat
charter-in of dry bulk vessels, today announced that, through a separate
wholly-owned subsidiary, it has entered into a time charter contract with
Western Bulk Carriers AS, for one of its Ultramax dry bulk vessels, the m/v DSI
Andromeda. The gross charter rate is US$14,250 per day, minus a 5% commission
paid to third parties, for a period until minimum October 16, 2023 up to maximum
December 16, 2023. The charter is expected to commence later today.

The “DSI Andromeda” is a 60,309 dwt Ultramax dry bulk vessel built in 2016.

The employment of “DSI Andromeda” is anticipated to generate approximately
US$4.70 million of gross revenue for the minimum scheduled period of the time
charter.

Diana Shipping Inc.’s fleet currently consists of 40 dry bulk vessels (4
Newcastlemax, 11 Capesize, 5 Post-Panamax, 6 Kamsarmax, 8 Panamax and 6
Ultramax). The Company also expects to take delivery of 3 Ultramax dry bulk
vessels in the fourth quarter of 2022. As of today, the combined carrying
capacity of our fleet, excluding the 3 Ultramax dry bulk vessels not yet
delivered, is approximately 4.7 million dwt with a weighted average age of 10.16
years. A table describing the current Diana Shipping Inc. fleet can be found on
the Company’s website, www.dianashippinginc.com. Information contained on the
Company’s website does not constitute a part of this press release...

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