Diana Shipping Inc. Reports Financial Results for the Second Quarter and Six Months Ended June 30, 2025; Declares Cash Dividend of $0.01 Per Common Share for the Second Quarter 2025

30 Jul 2025 14:00 CEST

ATHENS, GREECE, July 30, 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 reported net income of $4.5 million and
net income attributable to common stockholders of $3.1 million for the second
quarter of 2025. This compares to a net loss of $2.8 million and a net loss
attributable to common stockholders of $4.2 million for the second quarter of
2024. Earnings per share for the second quarter of 2025 were $0.03 basic and
diluted, compared to loss per share of $0.04 basic and diluted in the same
quarter of 2024.

Time charter revenues were $54.7 million for the second quarter of 2025,
compared to $56.0 million for the same quarter of 2024. The decrease in time
charter revenues, compared to the same quarter last year, was due to decreased
ownership days and was partly offset by increased average charter rates.

Net income for the six months ended June 30, 2025, amounted to $7.5 million and
net income attributable to common stockholders amounted to $4.7 million. This
compares to a net loss of $0.7 million and a net loss attributable to common
stockholders of $3.6 million for the same period in 2024. Time charter revenues
for the six months ended June 30, 2025, were $109.6 million, compared to $113.6
million for the same period in 2024. Earnings per share for the six months ended
June 30, 2025 were $0.04 basic and diluted, compared to a loss per share of
$0.03 basic and diluted for the same period in 2024.

Dividend Declaration

The Company has declared a cash dividend on its common stock of $0.01 per share,
based on the Company’s results of operations during the quarter ended June 30,
2025. The cash dividend will be payable on September 11, 2025, to all common
shareholders of record as of August 21, 2025. As of July 29, 2025, the Company
has 115,775,463 common shares issued and outstanding and there were 16,211,330
outstanding warrants.

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651874_DSI Earnings Release 30.06.25.pdf