Diana Shipping Inc. Announces Time Charter Contract for m/v DSI Altair with Propel Shipping

19 Sep 2024 15:35 CEST

ATHENS, GREECE, September 19, 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 Propel
Shipping Pte. Ltd., for one of its Ultramax dry bulk vessels, the m/v DSI
Altair. The gross charter rate is US$15,750 per day, minus a 5.00% commission
paid to third parties, for a period until minimum November 1, 2025 up to maximum
December 31, 2025. The charter is expected to commence on September 26, 2024.
The m/v DSI Altair is currently chartered, as previously announced, to Western
Bulk Carrier AS, at a gross charter rate of US$13,800 per day, minus a 5.00%
commission paid to third parties.

The “DSI Altair” is a 60,309 dwt Ultramax dry bulk vessel built in 2016.

The employment of “DSI Altair” is anticipated to generate approximately US$6.24
million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists 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, excluding the two vessels not yet delivered, is approximately 4.2 million
dwt with a weighted average age of 10.97 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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