Diana Shipping Inc. Announces the Order of Two 81,200 dwt Methanol Dual Fuel New-Building Kamsarmax Dry Bulk Vessels

27 Sep 2023 16:04 CEST

ATHENS, GREECE, September 27, 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 it has signed a letter of
intent to order through Marubeni Corporation or its guaranteed nominee, an
unaffiliated third party, two 81,200 dwt methanol dual fuel new-building
Kamsarmax dry bulk vessels, for a purchase price of US$46 million each, built at
Tsuneishi Group (Zhoushan) Shipbuilding Inc., China. The vessels are expected to
be delivered to the Company by the second half of 2027 and the first half of
2028 respectively. The transaction remains subject to the execution of
definitive documentation and satisfaction of customary closing conditions.

Mrs. Semiramis Paliou, Director and Chief Executive Officer of the Company,
stated: “Diana Shipping Inc. takes pride in its role as an industry leader,
continually striving to enhance our fleet and operations for the benefit of our
stakeholders and the environment. This investment underscores our dedication to
sustainable shipping and positions us to meet the evolving demands of our
industry while reducing our carbon footprint.”

Excluding the aforementioned vessels, Diana Shipping Inc.’s fleet currently
consists of 41 dry bulk vessels: 4 Newcastlemax, 10 Capesize, 5 Post-Panamax, 6
Kamsarmax, 7 Panamax and 9 Ultramax. As of today, the combined carrying capacity
of the Company’s fleet, excluding the two vessels not yet delivered, is
approximately 4.7 million dwt with a weighted average age of 10.48 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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