DIANA SHIPPING INC. ANNOUNCES TIME CHARTER CONTRACT FOR M/V MYRSINI WITH CARGILL

19 Feb 2025 15:43 CET

ATHENS, GREECE, February 19, 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 through a separate
wholly-owned subsidiary, it has entered into a time charter contract with
Cargill International SA, Geneva, for one of its Kamsarmax dry bulk vessels, the
m/v Myrsini. The gross charter rate is US$13,000 per day, minus a 4.75%
commission paid to third parties, for a period until minimum January 1, 2026 up
to maximum February 28, 2026. The charter is expected to commence on February
28, 2025.

The “Myrsini” is a 82,117 dwt Kamsarmax dry bulk vessel built in 2010.

The employment of “Myrsini” is anticipated to generate approximately US$3.95
million of gross revenue for the minimum scheduled period of the time charter.

Upon completion of the previously announced sale of m/v Alcmene, 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 11.39 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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