Diana Shipping Inc. Becomes Strategic Partner in Two 7,500 cbm Semi-Refrigerated LPG Newbuildings

21 Mar 2025 14:57 CET

ATHENS, GREECE, March 21, 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 the Company agreed to
become a strategic partner and invest in a newly established joint venture,
Ecogas Holding AS, with an 80% equity interest in a transaction for the
construction of two 7,500 cbm semi-refrigerated LPG newbuildings, with an option
for two additional vessels. Delivery of the first vessel is expected in the
first quarter of 2027 and of the second vessel in the fourth quarter of 2027.

Diana Shipping Inc.’s fleet currently consists 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, excluding the two vessels not yet delivered, is approximately
4.1 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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