Diana Shipping Inc. Announces Time Charter Contract for m/v Polymnia with Reachy

04 Jun 2024 15:45 CEST

ATHENS, GREECE, June 4, 2024 – 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 entered into a time charter contract with Reachy Shipping
(SGP) Pte. Ltd., for one of its Post-Panamax dry bulk vessels, the m/v Polymnia.
The gross charter rate is US$17,500 per day, minus a 5.00% commission paid to
third parties, for a period until minimum August 1, 2025 up to maximum September
30, 2025. The charter is expected to commence on June 8, 2024. The m/v Polymnia
is currently chartered, as previously announced, to Cobelfret S.A., Luxemburg,
at a gross charter rate of US$15,000 per day, minus a 5.00% commission paid to
third parties.

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

The employment of “Polymnia” is anticipated to generate approximately US$7.25
million of gross revenue for the minimum scheduled period of the time charter.

Upon completion of the previously announced sale of m/v Houston, Diana Shipping
Inc.’s fleet will consist of 38 dry bulk vessels: 4 Newcastlemax, 8 Capesize, 5
Post-Panamax, 6 Kamsarmax, 6 Panamax and 9 Ultramax. The Company also expects to
take delivery of two methanol dual fuel new-building Kamsarmax dry bulk vessels
by the second half of 2027 and the first half of 2028, respectively. As of
today, the combined carrying capacity of the Company’s fleet including the m/v
Houston and excluding the two vessels not yet delivered, is approximately 4.4
million dwt with a weighted average age of 10.84 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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