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

11 Apr 2023 15:54 CEST

ATHENS, GREECE, April 11, 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 Drammen (formerly
“Nord Potomac”), a 2016 built Ultramax dry bulk vessel of 63,379 dwt that the
Company entered into an agreement to purchase in February 2023.

The Company also announced that, through the same wholly-owned subsidiary, it
entered into a time charter contract with IMC Shipping Co. Pte. Ltd., at a gross
charter rate of US$18,250 per day, minus a 5% commission paid to third parties,
for a period until minimum April 10, 2024 up to maximum June 10, 2024. The
charter is expected to commence on April 15, 2023.

The employment of “DSI Drammen” is anticipated to generate approximately US$6.5
million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 42 dry bulk vessels (4
Newcastlemax, 10 Capesize, 5 Post-Panamax, 6 Kamsarmax, 7 Panamax and 10
Ultramax). As of today, the combined carrying capacity of our fleet is
approximately 4.7 million dwt with a weighted average age of 9.98 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...

More information:
Access the news on Oslo Bors NewsWeb site

587339_DSX_Press_Release_DSI_Drammen_delivery_charter_110423.pdf