Diana Shipping Inc. Announces Direct Continuation of Time Charter Contract for m/v Los Angeles with NYK LINE

05 Jul 2024 15:55 CEST

ATHENS, GREECE, July 5, 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 extended the 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$28,700 per day, minus a 5.00%
commission paid to third parties, for a period until minimum October 1, 2025 up
to maximum December 15, 2025. The new charter period is expected to commence on
July 18, 2024. The m/v Los Angeles is currently chartered, as previously
announced, at a gross charter rate of US$17,700 per day, minus a 5.00%
commission paid to third parties.

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

The employment extension of “Los Angeles” is anticipated to generate
approximately US$12.43 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 10.92 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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