Diana Shipping Inc. Announces Time Charter Contracts for m/v Philadelphia with Refined Success and m/v Phaidra with SwissMarine

27 May 2025 15:23 CEST

ATHENS, GREECE, May 27, 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 Refined Success
Limited, for one of its Newcastlemax dry bulk vessels, the m/v Philadelphia. The
gross charter rate is US$21,500 per day, minus a 5.00% commission paid to third
parties, for a period until minimum June 9, 2026 up to maximum August 8, 2026.
The charter is expected to commence on May 29, 2025.

The “Philadelphia” is a 206,040 dwt Newcastlemax dry bulk vessel built in 2012.

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 Post-Panamax dry bulk vessels, the m/v Phaidra. The gross charter
rate is US$9,750 per day, minus a 5.00% 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 May 31, 2025.

The “Phaidra” is an 87,146 dwt Post-Panamax dry bulk vessel built in 2013.

The employments of “Philadelphia” and “Phaidra” are anticipated to generate
approximately US$10.03 million of gross revenue for the minimum scheduled
periods of the time charters.

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 11.57 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 part of this press release...

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