Diana Shipping Inc. Announces Direct Continuation of Time Charter Contract for m/v Polymnia and a New Time Charter Contract for m/v Los Angeles

17 Jan 2023 14:13 CET

ATHENS, GREECE, January 17, 2023 – 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 CLdN
Cobelfret SA, Luxembourg, for one of its Post-Panamax dry bulk vessels, the m/v
Polymnia. The gross charter rate is US$10,000 per day for the first thirty (30)
days of the charter period and US$15,000 per day for the balance period of the
time charter, in each case minus a 5% commission paid to third parties, for a
period until minimum April 1, 2024 up to maximum May 31, 2024. The new charter
period commenced on January 14, 2023.

The “Polymnia” is a 98,704 dwt Post-Panamax dry bulk vessel built in 2012.

The Company also announced that, through a separate wholly-owned subsidiary, it
has entered into a time charter contract with Nippon Yusen Kabushiki Kaisha,
Tokyo, for one of its Newcastlemax dry bulk vessels, the m/v Los Angeles. The
gross charter rate is US$17,700 per day, minus a 5% commission paid to third
parties, for a period until minimum May 20, 2024 up to maximum August 5, 2024.
The charter commenced on January 15, 2023.

The “Los Angeles” is a 206,104 dwt Newcastlemax dry bulk vessel built in 2012.

The employment extension of “Polymnia” as well as the employment of “Los
Angeles” are anticipated to generate approximately US$15.02 million of gross
revenue for the minimum scheduled period of the time charters.

Diana Shipping Inc.’s fleet currently consists of 42 dry bulk vessels (4
Newcastlemax, 11 Capesize, 5 Post-Panamax, 6 Kamsarmax, 8 Panamax and 8
Ultramax). The Company also expects to take delivery of 1 Ultramax dry bulk
vessel by the end of January of 2023. As of today, the combined carrying
capacity of the Company’s fleet, excluding the 1 Ultramax dry bulk vessel not
yet delivered, is approximately 4.9 million dwt with a weighted average age of
10.25 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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