Diana Shipping Inc. Announces Time Charter Contract for m/v Atalandi with Cargill

11 Jul 2024 22:19 CEST

ATHENS, GREECE, July 11, 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
Cargill International S.A., Geneva, for one of its Ice Class Panamax dry bulk
vessels, the m/v Atalandi. The gross charter rate is US$14,600 per day, minus a
4.75% commission paid to third parties, for a period until minimum June 1, 2025
up to maximum July 31, 2025. The charter is expected to commence on July 19,
2024.

The “Atalandi” is a 77,529 dwt Ice Class Panamax dry bulk vessel built in 2014.

The employment of “Atalandi” is anticipated to generate approximately US$4.57
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 10.94 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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