DIANA SHIPPING INC. ANNOUNCES TIME CHARTER CONTRACT FOR M/V MAIA WITH PARALOS SHIPPING

05 Dec 2024 14:55 CET

ATHENS, GREECE, December 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 entered into a time charter contract with
Paralos Shipping Pte. Ltd., for one of its Kamsarmax dry bulk vessels, the m/v
Maia. The gross charter rate is US$11,600 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 December 9, 2024.

The “Maia” is an 82,193 dwt Kamsarmax dry bulk vessel built in 2009.

The employment of “Maia” is anticipated to generate approximately US$3.75
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 11.18 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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