Diana Shipping Inc. Announces Delivery of the Ultramax Dry Bulk Vessel m/v DSI Aquarius and her Entry Into Time Charter Contract with Engelhart CTP

31 Jan 2023 10:21 CET

ATHENS, GREECE, January 30, 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 taken delivery of the m/v DSI Aquarius (formerly
“STH Kure”), a 2016 built Ultramax dry bulk vessel of 60,309 dwt. The vessel is
one of nine modern Ultramax dry bulk vessels that the Company entered into an
agreement to purchase in August 2022.

The Company also announced that, through the same wholly-owned subsidiary, it
entered into a time charter contract with Engelhart CTP Freight (Switzerland)
SA, at a gross charter rate of US$14,200 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 charter is expected to commence on February 1, 2023.

The employment of “DSI Aquarius” is anticipated to generate approximately
US$4.81 million of gross revenue for the minimum scheduled period of the time
charter.

Upon the completion of the previously announced sale of m/v Aliki and including
the newly delivered m/v DSI Aquarius, Diana Shipping Inc.’s fleet will consist
of 42 dry bulk vessels (4 Newcastlemax, 10 Capesize, 5 Post-Panamax, 6
Kamsarmax, 8 Panamax and 9 Ultramax). As of today, the combined carrying
capacity of our fleet, including the m/v Aliki, 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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581031_DSX Press Release_DSI Aquarius_delivery_300122.pdf