DIANA SHIPPING INC. ANNOUNCES THE SALE OF A POST-PANAMAX DRY BULK VESSEL, THE M/V ALCMENE, AND THE DIRECT CONTINUATION OF TIME CHARTER CONTRACT FOR M/V SAN FRANCISCO WITH SWISSMARINE

12 Feb 2025 15:20 CET

ATHENS, GREECE, February 12, 2025 – 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 it has signed, through a
separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an
unaffiliated third party, the 2010-built Post-Panamax vessel “Alcmene”, with
delivery to the buyer latest by March 7, 2025, for a sale price of approximately
US$11.9 million before commissions.

The Company also announced that, through a separate wholly-owned subsidiary, it
has entered into a time charter contract with SwissMarine Pte. Ltd., Singapore,
for one of its Newcastlemax dry bulk vessels, the m/v San Francisco. The gross
charter rate is US$26,000 per day, minus a 5.00% commission paid to third
parties, for a period until minimum October 25, 2026 up to maximum December 25,
2026. The new charter period is expected to commence on February 27, 2025. The
m/v San Francisco is currently chartered, as previously announced, at a gross
charter rate of US$22,000 per day, minus a 5.00% commission paid to third
parties.

The “San Francisco” is a 208,006 dwt Newcastlemax dry bulk vessel built in 2017.

The employment extension of “San Francisco” is anticipated to generate
approximately US$15.55 million of gross revenue for the minimum scheduled period
of the time charter.

Upon completion of the aforementioned sale, Diana Shipping Inc.’s fleet will
consist of 37 dry bulk vessels (4 Newcastlemax, 8 Capesize, 4 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 Alcmene and
excluding the two vessels not yet delivered, is approximately 4.2 million dwt
with a weighted average age of 11.37 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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