DIANA SHIPPING INC. ANNOUNCES DELIVERY OF THE ULTRAMAX DRY BULK VESSEL M/V DSI PEGASUS

05 Dec 2022 15:57 CET

ATHENS, GREECE, December 5, 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 taken delivery of the m/v DSI Pegasus (formerly
“STH Athens”), a 2015 built Ultramax dry bulk vessel of 60,508 dwt. The vessel
is one of nine modern Ultramax dry bulk vessels that the Company entered into an
agreement to purchase in August 2022.

Including the newly delivered m/v DSI Pegasus, Diana Shipping Inc.’s fleet
currently consists of 41 dry bulk vessels (4 Newcastlemax, 11 Capesize, 5
Post-Panamax, 6 Kamsarmax, 8 Panamax and 7 Ultramax). The Company also expects
to take delivery of 2 Ultramax dry bulk vessels in the fourth quarter of 2022.
As of today, the combined carrying capacity of our fleet, excluding the 2
Ultramax dry bulk vessels not yet delivered, is approximately 4.8 million dwt
with a weighted average age of 10.18 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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577413_DSX_Press_Release_DSIPegasus_delivery_051222.pdf