DIANA SHIPPING INC. ANNOUNCES DIRECT CONTINUATION OF TIME CHARTER CONTRACT FOR M/V ALCMENE WITH SWISSMARINE

12 Dec 2022 16:16 CET

ATHENS, GREECE, December 12, 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 extended the time charter contract with
SwissMarine Pte Ltd., Singapore, for one of its Post-Panamax dry bulk vessels,
the m/v Alcmene. The gross charter rate is US$13,000 per day, minus a 5%
commission paid to third parties, for a period until minimum January 10, 2024 up
to maximum March 25, 2024. The new charter period is expected to commence on
December 27, 2022.

The “Alcmene” is a 93,193 dwt Post-Panamax dry bulk vessel built in 2010.

The employment of “Alcmene” is anticipated to generate approximately US$4.86
million of gross revenue for the minimum scheduled period of the time charter.

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 the Company’s fleet, excluding the 2 Ultramax dry bulk vessels not
yet delivered, is approximately 4.8 million dwt with a weighted average age of
10.20 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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