Diana Shipping Inc. Announces Time Charter Contract for m/v DSI Phoenix with Cargill Ocean Transportation

25 Jul 2025 16:10 CEST

ATHENS, GREECE, July 25, 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 Ocean Transportation (Singapore) Pte. Ltd., for one of its Ultramax dry
bulk vessels, the m/v DSI Phoenix. The gross charter rate is US$13,500, minus a
4.75% commission paid to third parties, for a period until minimum October 1,
2026 up to maximum November 30, 2026. The charter is expected to commence on
August 3, 2025.

The “DSI Phoenix” is a 60,456 dwt Ultramax dry bulk vessel built in 2017.

The employment of “DSI Phoenix” is anticipated to generate approximately US$5.64
million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 36 dry bulk vessels (4
Newcastlemax, 8 Capesize, 4 Post-Panamax, 6 Kamsarmax, 5 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 11.67 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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651790_DSX_Press_Release_DSI Phoenix_charter_250725.pdf