DIANA SHIPPING INC. ANNOUNCES TIME CHARTER CONTRACTS FOR M/V DSI AQUILA WITH WESTERN BULK AND M/V HOUSTON WITH EGPN

18 Nov 2022 15:09 CET

ATHENS, GREECE, November 18, 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
Aquila. The gross charter rate is US$13,300 per day, minus a 5% commission paid
to third parties, for a period until minimum September 15, 2023 up to maximum
November 15, 2023. The charter is expected to commence on November 22, 2022.

The “DSI Aquila” is a 60,309 dwt Ultramax dry bulk vessel built in 2015.

The Company also announced that, through a separate wholly-owned subsidiary, it
has entered into a time charter contract with EGPN Bulk Carrier Co., Limited,
for one of its Capesize dry bulk vessels, the m/v Houston. The gross charter
rate is US$13,000 per day, minus a 5% commission paid to third parties, for a
period until minimum July 1, 2024 up to maximum August 31, 2024. The charter is
expected to commence on November 21, 2022.

The “Houston” is a 177,729 dwt Capesize dry bulk vessel built in 2009.

The employments of “DSI Aquila” and “Houston” are anticipated to generate
approximately US$11.44 million of gross revenue for the minimum scheduled period
of the time charters.

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 10.17
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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